EXPLANATORY NOTE
(This note is not part of the Order)
This Order makes amendments to the fees charged in relation to insolvency proceedings under the Insolvency (Northern Ireland) Order 1989 (“the 1989 Order”) and earlier legislation which remains in operation in relation to cases which were commenced before 27 March 2006, the date on which the Insolvency (Fees) Order (Northern Ireland) 2006 (S.R. 2006 No. 54) (“the principal Order”) came into operation.
In any case where a bankruptcy order was made under the 1989 Order before the date that this Order comes into operation, only Fee 19 in Part 2 of the Schedule to the Insolvency (Fees) Order (Northern Ireland) 1991 (S.R.1991 No.385) (“the 1991 Order”) will continue to apply. As regards cases where a winding-up order is made under the 1989 Order before the date this Order comes into operation, only Fee 8 in Part 1 of the Schedule to the 1991 Order will continue to be payable.
Article 3 updates Article 5 of the principal Order which prescribes the fees payable to insolvency practitioners under Article 247 of the 1989 Order. The amount payable is increased from £310 to £345 to correspond with a similar increase in the deposit payable pursuant to article 4 of the Insolvency (Deposits) (Amendment) Order (Northern Ireland) 2009.
Article 5(a) reduces the fee payable under paragraph 2 of Schedule 2 to the principal Order in connection with the registration of an individual voluntary arrangement, from £35 to £15.
Articles 5(c) and 5(f) reduce the maximum amount payable for administration fees under paragraph 2 of Schedule 2 to the principal Order, from £100,000 to £80,000.
Article 5(e) increases the amount of the official receiver’s administration fee payable under paragraph 2 of Schedule 2 to the principal Order, from £1,495 to £1,615.
A Regulatory Impact Assessment was prepared for the Insolvency (Northern Ireland) Order 2005. This deals with the restructuring of the system of insolvency fees. Copies of this are available from the Legislation Unit, The Insolvency Service, Fermanagh House, 20A Ormeau Avenue, Belfast BT2 8NJ.