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The Insolvency (England and Wales) (Amendment) Rules 2021
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- 2021 No. 672
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EXPLANATORY NOTE
(This note is not part of the Rules)
These Rules amend the Insolvency (England and Wales) Rules 2016 (S.I. 2016/1024). Rule 9.9 of those Rules lists property the official receiver must disregard for the purposes of determining the value of a debtor’s property in connection with a debt relief order under Part 7A of the Insolvency Act 1986. This includes a single domestic motor vehicle whose maximum potential realisable value is less than £1,000. These Rules change that amount to £2,000.
A full impact assessment of the effect that this instrument will have on the costs of business, the voluntary sector and the public sector is available from the Insolvency Service, 16th Floor, 1 Westfield Avenue, Stratford, London, E20 1HZ and is also published on the Insolvency Service website www.gov.uk/government/organisations/insolvency-service.
An Explanatory Memorandum has been prepared and is available alongside these Rules at www.legislation.gov.uk.
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