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The Charging Orders (Orders for Sale: Financial Thresholds) Regulations 2013
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- UK Statutory Instruments
- 2013 No. 491
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EXPLANATORY NOTE
(This note is not part of the Regulations)
These Regulations set a financial threshold for orders for sale to enforce a charge imposed by a charging order in cases where the charging order was made to secure the payment of money due under a judgment made for the purpose of enforcing payment of money owed under an agreement which is a regulated agreement under the Consumer Credit Act 1974, and the application to enforce is made on or after the date on which the Regulations come into force.
The threshold is set at £1,000, so that if the amount of the judgment debt which remains unpaid at the date of the making of the application to enforce is less than £1,000, no order for sale may made.
An Impact Assessment has been prepared in relation to the Regulations, and may be found at https://consult.justice.gov.uk/digital-communications/county_court_disputes .
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