The Insolvency Fees (Amendment) Order 1988

Statutory Instruments

1988 No. 95

INSOLVENCY

COMPANIES INDIVIDUALS, ENGLAND AND WALES

The Insolvency Fees (Amendment) Order 1988

Made

25th January 1988

Laid before Parliament

26th January 1988

Coming into force

16th February 1988

The Lord Chancellor, in exercise of the powers conferred on him by sections 414 and 415 of the Insolvency Act 1986(1), and with the sanction of the Treasury, hereby makes the following Order:—

1.  This Order may be cited as the Insolvency Fees (Amendment) Order 1988 and shall come into force on 16th February 1988.

2.  The Schedule to the Insolvency Fees Order 1986(2)shall be amended—

(a) by substituting for the amount “£16.25” shown in relation to Fee No. 7 in Part I and Fee No. 10 in Part II, in each case, the amount “£17.40”;

(b) by substituting for the words “per cent 10.00” shown in relation to Fee No. 10(i) in Part I and Fee No. 13(a) in Part II, in each case, the words “per cent 15.00”;

(c) by substituting for the words “per cent 7.50” shown in relation to Fee No. 10(ii) in Part I and Fee No. 13(b) in Part II, in each case, the words “per cent 11.25”;

(d) by substituting for the words “per cent 6.50” shown in relation to Fee No. 10(iii) in Part I and Fee No. 13(c) in Part II, in each case, the words “per cent 9.75”;

(e) by substituting for the words “per cent 3.75” shown in relation to Fee No. 10(iv) in Part I and Fee No. 13(d) in Part II, in each case, the words “per cent 5.625”;

(f) by substituting for the words “per cent 2.00” shown in relation to Fee No. 10(v) in Part I and Fee No. 13(e) in Part II, in each case, the words “per cent 3.00”;

(g) by substituting for the words “per cent 1.00” shown in relation to Fee No. 10(vi) in Part I and Fee No. 13(f) in Part II, in each case, the words “per cent 1.50”;

(h) by substituting for the words “per cent 1.25” shown in relation to Fee No. 11(1) and (2)(i) in Part I, in each case, the words “per cent 1.75”;

(i) by substituting for the words “per cent 0.75” shown in relation to Fee No. 11(2)(ii) in Part I, the words “per cent 1.25”;

(j) by substituting for the amount “£7,500” shown in relation to Fee No. 11(2) in Part I, the amount “£12,500”; and

(k) by substituting for the words “per cent 0.375” shown in relation to Fee No. 12 in Part I, the words “per cent 0.625”.

Mackay of Clashfern, C

Dated 21st January 1988

We concur,

Peter Lloyd

Tony Durant

Two of the Lords Commissioners of Her Majesty’s Treasury

Dated 25th January 1988

Explanatory Note

(This note does not form part of the Order)

This Order, which amends the Insolvency Fees Order 1986, increases with effect from 16th February 1988 certain fees set out in the Schedule to that Order which are to be charged in company and individual insolvency proceedings in England and Wales to which the Insolvency Act 1986 applies where a bankruptcy petition is presented, or (in the case of proceedings other than bankruptcy) the proceedings are commenced, on or after 29th December 1986.

(1)

1986 c. 45

(2)

S.I. 1986/2030