Citation and commencement
1. This Order may be cited as the Insolvency (Monetary Limits) (Amendment) Order (Northern Ireland) 2011 and shall come into operation on 30th June 2011.
Interpretation
2. In this Order—
“the principal Order” means the Insolvency (Monetary Limits) Order (Northern Ireland)1991(1).
Amendments to the principal Order
3. After Article 2 insert—
“Monetary limits relating to debt relief orders
2A. The amounts specified for the purposes of the provisions in Part VIIA of the Order (debt relief orders) set out in column 1 of Part 1 of the Schedule (shortly described in column 2) are the amounts specified in column 3 in relation to those provisions.”.
4. In Article 3 for “set out in column 1 of the Schedule” substitute “set out in column 1 of Part 2 of the Schedule”.
5. For the Schedule substitute—
“SCHEDULE
Article 2A
PART 1
Monetary Limits for Purposes of Part VIIA of the Insolvency (Northern Ireland) Order 1989
Column 1 Article of Order | Column 2 Short Description | Column 3 Monetary Amount |
|---|---|---|
| 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. | £500 |
| Schedule 2ZA | Monetary conditions which must be satisfied for a debt relief order to be made— | |
| (a) paragraph 6(1) | (a) maximum amount of a person’s debts: | £15,000 |
| (b) paragraph 7(1) | (b) maximum amount of monthly surplus income: | £50 |
| (c) paragraph 8(1) | (c) maximum total value of property: | £300 |
Article 3
PART 2
Monetary Limits for Purposes of Part IX of the Insolvency (Northern Ireland) 0rder 1989
Column 1 Article of Order | Column 2 Short Description | Column 3 Monetary |
|---|---|---|
| 247(1)(a) | Maximum level of unsecured bankruptcy debts on debtor’s petition for case to be referred to insolvency practitioner to assess possibility of voluntary arrangement with creditors. | £40,000 |
| 247(1)(b) | Minimum potential value of bankrupt’s estate for case to be referred as described above. | £4,000 |
| 286A(2) | Minimum value of interests in a dwelling-house for application by trustee for order for sale, possession or an order under Article 286. | £1,000 |
| 325(1) and (3) | Minimum amount of concealed debt, or value of property concealed or removed, determining criminal liability under the Article. | £1,000 |
| 329(1) | Minimum value of property taken by a bankrupt out of Northern Ireland, determining his criminal liability. | £1,000 |
| 331(1) | Maximum amount of credit which bankrupt may obtain without disclosure of his status. | £500 |
| 335(2)(d) | Minimum value of goods removed by the bankrupt, determining his liability to arrest. | £1,000” |
Sealed with the Official Seal of the Department of Enterprise, Trade and Investment on 16th March 2011.
Michael J Bohill
A senior officer of the
Department of Enterprise, Trade and Investment