The Insolvency (Amendment) Regulations 2009

Statutory Instruments

2009 No. 482

Insolvency, England And Wales

The Insolvency (Amendment) Regulations 2009

Made

4th March 2009

Laid before Parliament

6th March 2009

Coming into force

6th April 2009

The Secretary of State, in exercise of the powers conferred by sections 411(7) and 412(4) of, and paragraphs 27 of Schedule 8 and 30 of Schedule 9 to, the Insolvency Act 1986(1) and Rule 12.1(g) of the Insolvency Rules 1986(2), makes the following Regulations—

Citation and commencement

1.  These Regulations may be cited as the Insolvency (Amendment) Regulations 2009 and come into force on 6th April 2009.

Amendment of the Insolvency Regulations 1994

2.  For Table 2 and Table 3 in Schedule 2 to the Insolvency Regulations 1994(3), substitute—

“Table 2

London Rates

Grade according to the Insolvency Service grading structure/Status of Official	Total hourly rate £
D2/Official Receiver C2/Deputy or Assistant Official Receiver C1/Senior Examiner L3/Examiner L2 Examiner B2/Administrator L1/Examiner B1/Administrator A2/Administrator A1/Administrator	75 63 58 46 42 46 40 46 40 35

Table 3

Provincial Rates

Grade according to the Insolvency Service grading structure/Status of Official	Total hourly rate £
D2/Official Receiver C2/Deputy or Assistant Official Receiver C1/Senior Examiner L3/Examiner L2 Examiner B2/Administrator L1/Examiner B1/Administrator A2/Administrator A1/Administrator	69 58 52 46 40 43 38 42 36 31”

Pat McFadden

Minister of State for Employment Relations and Postal Affairs

Department for Business, Enterprise and Regulatory Reform

4th March 2009

EXPLANATORY NOTE

(This note is not part of the Regulations)

Regulation 35 of the Insolvency Regulations 1994 provides that the official receiver is entitled to remuneration under that regulation while acting as interim receiver, provisional liquidator, liquidator or trustee. The hourly rates of remuneration payable by virtue of regulation 35 are set out in Tables 2 and 3 in Schedule 2 to the 1994 Regulations.

The hourly rates have been increased and are set out in the new Tables 2 and 3 which are substituted by these Regulations for the existing Tables in the 1994 Regulations.

(1)

1986 c. 45.

(2)

S. I. 1986/1925, amended by S.I. 1987/1919; there are other amending instruments but none is relevant.

(3)

S.I. 1994/2507, amended by S.I. 2004/472; there are other amending instruments but none is relevant.