{
  "url": "https://openlegislation.uk/insolvency-northern-ireland-order-1989/article-362",
  "json_url": "https://openlegislation.uk/insolvency-northern-ireland-order-1989/article-362.json",
  "legislation": "nisi/1989/2405",
  "legislation_title": "The Insolvency (Northern Ireland) Order 1989",
  "legislation_url": "https://openlegislation.uk/insolvency-northern-ireland-order-1989",
  "path": "article/362",
  "kind": "article",
  "number": "362",
  "heading": "Monetary limits",
  "text": "(1) The Department may by order—\n(za) increase or reduce any of the money sums for the time being specified in the following provisions of Part 1A—\nArticle 13DG(1) (maximum amount of credit which company may obtain without disclosing moratorium);\nArticle 13DJ(2) (maximum amount for certain payments without obtaining monitor consent etc);\nArticle 13G(2) (minimum value of company property concealed or fraudulently removed, affecting criminal liability of company's officer); or\n(a ) increase or reduce any of the money sums for the time being specified in—\nArticle 103(1)(a) (minimum debt for service of demand on company by unpaid creditor);\nArticle 170(1)(a) and (b) (minimum value of company property concealed or fraudulently removed, affecting criminal liability of company's officer);\nArticle 186(1) (minimum debt for service of demand on unregistered company by unpaid creditor);\n...\n...\n(b) specify amounts for the purposes of the following provisions—\nArticle 208S(4) (maximum amount of credit which a person in respect of whom a debt relief order is made may obtain without disclosure of his status);\nArticle 247 (minimum value of debtor's estate determining whether immediate bankruptcy order should be made; small bankruptcies level);\nArticle 286A (value of property below which application for sale, possession or charge to be dismissed);\nArticle 325(1)(b) and (3) (minimum amount of concealed debt, or value of property concealed or removed, determining criminal liability under the Article);\nArticle 329(1)(a) (minimum value of property taken by a bankrupt out of Northern Ireland, determining his criminal liability);\nArticle 331(1)(a) (maximum amount of credit which bankrupt may obtain without disclosure of his status);\nArticle 332(2)(a) (exemption of bankrupt from criminal liability for failure to keep proper accounts, if unsecured debts not more than the prescribed minimum);\nArticle 335(2)(d) (minimum value of goods removed by the bankrupt, determining his liability to arrest)\nparagraphs 6 to 8 of Schedule 2ZA (maximum amount of a person's debts, monthly surplus income and property for purposes of obtaining a debt relief order); ...\n(c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n.\n(2) An order under this Article may contain such transitional provisions as may appear to the Department necessary or expedient.\n(3) No order shall be made under this Article unless a draft of it has been laid before, and approved by a resolution of the Assembly.",
  "extent": "N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Art. 362(1)(za) inserted (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 7 para. 23(2) (with ss. 2(2), 5(2))"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "mod. by SR 2004/307"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in art. 362(1)(a) repealed (1.4.2016) by Insolvency (Amendment) Act (Northern Ireland) 2016 (c. 2), s. 28(2), Sch. 4; S.R. 2016/203, art. 2"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in art. 362(1)(b) inserted (30.6.2011) by Debt Relief Act (Northern Ireland) 2010 (c. 16), ss. 6, 7(1), Sch. para. 4(12)(a); S.R. 2011/13, art. 2"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Words in art. 362(1)(b) inserted (27.3.2006) by Insolvency (Northern Ireland) Order 2005 (S.I. 2005/1455 (N.I. 10)), arts. 1(3), 17(5) (with art. 4); S.R. 2006/21, art. 2 (with S.R. 2006/22, arts. 2 - 7)"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "Words in art. 362(1)(b) inserted (30.6.2011) by Debt Relief Act (Northern Ireland) 2010 (c. 16), ss. 6, 7(1), Sch. para. 4(12)(b); S.R. 2011/13, art. 2"
    },
    {
      "type": "F",
      "label": "F7",
      "text": "Art. 362(1)(c) and word omitted (26.6.2020) by virtue of Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 7 para. 23(3) (with ss. 2(2), 5(2))"
    }
  ],
  "outstanding_effects": [
    {
      "type": "words omitted",
      "affecting": "nia/2026/6",
      "affecting_title": "Insolvency (Amendment) Act (Northern Ireland) 2026"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/nisi/1989/2405/article/362",
    "retrieved_at": "2026-10-29T04:47:04.938020+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}