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Insolvency (Deposits) Order (Northern Ireland) 2006

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Deposits - winding up by the High Court and bankruptcy

4.—(1) In this Article—

“appropriate deposit” means—

(a)

In relation to a winding-up petition to be presented under the 1989 Order the sum of £620:

(b)

In relation to a bankruptcy petition to be presented under Article 238(1)(b) of the 1989 Order the sum of £310; or

(c)

In relation to a bankruptcy petition to be presented under Article 238(1)(a), (ba), (bb), or (c) of the 1989 Order(1) the sum of £370;

“order” means a winding-up, or as the case may be, bankruptcy order;

“petition” means a winding-up, or as the case may be, bankruptcy petition;

“relevant assets” means the assets of the company or, as the case may be the assets comprised in the estate of the bankrupt; and

“relevant fees” means in relation to winding-up proceedings fee W1 in the Table of Fees in Schedule 2 to the Fees Order and in relation to bankruptcy proceedings fee B1 in the Table of Fees in Schedule 2 to the Fees Order together with any fees payable under Article 247 of the 1989 Order.

(2) Where a petition is presented the appropriate deposit is payable by the petitioner and the deposit shall be security for the payment of the relevant fees and shall be used to discharge those fees to the extent that the relevant assets are insufficient for that purpose.

(3) A deposit shall be repaid to the person who made it in a case where a petition is dismissed or withdrawn except in the case of a bankruptcy petition where it is required to pay any fees arising under Article 5 of the Fees Order.

(4) In any case where an order is made (including any case where the order is subsequently annulled, rescinded or recalled), any deposit made shall be returned to the person who made it save to the extent that the relevant assets are insufficient to discharge the fees for which the deposit is security.

(1)

Paragraphs 1(ba) and 1(bb) were inserted by Regulation 13 of the Insolvency (Northern Ireland) Order 1989 (Amendment No. 2) Regulations (Northern Ireland) 2002, S.R. 2002 No. 334

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