2006 No. 53
The Insolvency Practitioners and Insolvency Account (Fees) Order (Northern Ireland) 2006
Made
Coming into operation
The Department of Enterprise, Trade and Investment1, in exercise of the powers conferred upon it by Article 361A(1), (2) and (3) of the Insolvency (Northern Ireland) Order 19892 and of every other power enabling it in that behalf, with the concurrence of the Department of Finance and Personnel, hereby makes the following Order:
Citation, commencement and interpretation1
1
This Order may be cited as the Insolvency Practitioners and Insolvency Account (Fees) Order (Northern Ireland) 2006 and shall come into operation on 27th March 2006 (“the commencement date”).
2
In this order “the 1989 Order” means the Insolvency (Northern Ireland) Order 1989.
Fees payable in connection with the recognition of professional bodies pursuant to Article 350 of the 1989 Order2
1
Every application by a body for recognition pursuant to Article 350 of the 1989 Order shall be accompanied by a fee of £4,500.
2
On or before 31st May next following the commencement date and on or before 1st April in each subsequent year there shall be paid to the Department by each body recognised pursuant to Article 350 of the 1989 Order in respect of the maintenance of that body’s recognition pursuant to Article 350 of the 1989 Order, a fee calculated by multiplying £50 by the number of persons who as at the preceding 1st January in that year were authorised to act as insolvency practitioners by virtue of membership of that body.
3
Each body recognised pursuant to Article 350 of the 1989 Order shall within one month of the commencement date and on or before 31st January in each subsequent year submit to the Department a list of its members who as at 1st January in that year were authorised to act as insolvency practitioners by virtue of membership of that body.
Fees payable in connection with authorisations by the Department under Article 352 of the 1989 Order3
1
Every person, who on the commencement date is the holder of an authorisation to act as an insolvency practitioner granted by the Department pursuant to Article 352 of the 1989 Order shall within 7 days of that date pay to the Department a fee in respect of the maintenance of that authorisation calculated in accordance with paragraph (2).
2
The fee payable by virtue of paragraph (1) shall be calculated by multiplying the sum of £1,025, less the sum paid by the holder of the authorisation under Article 352 of the 1989 Order when he applied for his authorisation, by the number of days in the period starting with the commencement date and ending on 31st December 2006 and dividing the result by 365.
3
Every application made to the Department pursuant to Article 351 of the 1989 Order for authorisation to act as an insolvency practitioner shall be accompanied by a fee of £1,025.
4
Subject to paragraph (5), every person who holds an authorisation granted by the Department pursuant to Article 352 of the 1989 Order to act as an insolvency practitioner shall, on or before each anniversary of the granting of that authorisation when it is in force, pay to the Department in connection with the maintenance of that authorisation a fee of £1,025.
5
Where on the relevant anniversary the authorisation mentioned in paragraph (4) has less than a year to run, the fee shall be calculated by multiplying £1,025 by the number of days that the authorisation has to run (starting with the day of the anniversary) and dividing the result by 365.
Fees payable in connection with the operation of the Insolvency Account4
There shall be payable in connection with the operation of the Insolvency Account fees as provided for in the Schedule.
Value Added Tax5
Where Value Added Tax is chargeable in respect of the provision of a service for which a fee is prescribed by any provision of this Order, there shall be payable in addition to that fee the amount of the Value Added Tax.
Sealed with the Official Seal of the Department of Enterprise, Trade and Investment on 16 February 2006
The Department of Finance and Personnel hereby concurs with the foregoing Order.
Sealed with the Official Seal of the Department of Finance and Personnel on 16 February 2006
SCHEDULE 1Fees payable in connection with the operation of the Insolvency Account
Fees payable in connection with the operation of the Insolvency Account1
1
In this Schedule a reference to a numbered regulation is to the regulation so numbered in the Insolvency Regulations (Northern Ireland) 19963.
2
In this Schedule “payment date” means any of the following dates in any year—
a
1st January;
b
1st April;
c
1st July; and
d
1st October.
3
In this Schedule “working day” means any day other than a Saturday, Sunday or public holiday in Northern Ireland.
4
Subject to paragraphs (5) and (6), for the purposes of this Schedule an account is “maintained with the Department in respect of monies which may from time to time be paid into the Insolvency Account” where in a winding up by the High Court or a bankruptcy the Department creates or has already created a record in relation to the winding up or, as the case may be, the bankruptcy for the purpose of recording payments into and out of the Insolvency Account relating to the winding up or, as the case may be, the bankruptcy.
5
An account ceases to be maintained with the Department in the case of a winding up by the High Court or a bankruptcy where—
a
the liquidator or the trustee has filed a receipts and payments account with the Department pursuant to regulation 14 or regulation 29;
b
the account contains, or is accompanied by, a statement that it is a final receipts and payments account; and
c
four working days have elapsed since the requirements of paragraphs (a) and (b) have been met,
but an account is revived in the circumstances mentioned in paragraph (6).
6
The circumstances referred to in paragraph (5) are—
a
the receipt by the Department of notice in writing given by the trustee or liquidator for the revival of the account; or
b
the payment into the Insolvency Account of any sums to the credit of the company or, as the case may be, the estate of the bankrupt,
and on the occurrence of either of the circumstances mentioned above, an account is “maintained with the Department in respect of monies which may from time to time be paid into the Insolvency Account”.
7
Fees payable in connection with the operation of the Insolvency Account2
Fees shall be payable in relation to the operation of the Insolvency Account (including payments into and out of that account) in the circumstances set out in the following table—
No. of fee | Description of fee and circumstances in which it is payable | Amount |
---|---|---|
1. | Banking fee; winding up by the High Court and bankruptcy Where in any bankruptcy or winding up by the High Court an account is maintained with the Department in respect of monies which may from time to time be paid into the Insolvency Account, there shall be payable out of the estate of the bankrupt or, as the case may be, the assets of the company on each payment date where the liquidator or the trustee is not the official receiver, a fee of— | £15 |
2. | Cheque etc. issue fee Where a cheque, money order or payable order in respect of monies in the Insolvency Account is issued or reissued on the application of—
there shall be payable out of the assets of the company, the estate of the bankrupt or, as the case may be, by the claimant— | |
| £0.65 £0.80 | |
3. | BACs etc. fee On the making or remaking through the Bankers Automated Clearing System or any other electronic funds system of a transfer in respect of funds held in the Insolvency Account on an application made after 27th March 2006 by—
there shall be payable out of the assets of the company, the estate of the bankrupt or, as the case may be, by the claimant a fee in respect of that transfer of— | £0.15 |
(This note is not part of the Order)