The Insolvency Fees (Amendment) Order 1992

Made: 13th January 1992

Laid before Parliament: 13th January 1992

Coming into force: 14th January 1992

The Lord Chancellor, in exercise of the powers conferred on him by sections 414 and 415 of the Insolvency Act 1986[^f00001], and with the sanction of the Treasury, hereby makes the following Order:—

1

This Order may be cited as the Insolvency Fees (Amendment) Order 1992 and shall come into force on 14th January 1992.

2

The Schedule to the Insolvency Fees Order 1986[^f00002] shall be amended—

• (a) by substituting for the words “(vi) on all further amounts . . .per cent 1.50” shown in relation to Fee No. 10 in Part I, the words—

(vi) on the next £15,000,000 or fraction thereof . . .per cent 1.50 (vii) on the next £30,000,000 or fraction thereof. . .per cent 0.25 (viii) on all further amounts . . . . . . . . . . per cent 0.10

• (b) by substituting for the words “(f) on all further amounts . . .per cent 1.50” shown in relation to Fee No.13 in Part II, the words—

(f) on the next £15,000,000 or fraction thereof . . .per cent 1.50 (g) on the next £30,000,000 or fraction thereof . . .per cent 0.25 (h) on all further amounts . . . . . . . . . . per cent 0.10

Signed

Mackay of Clashfern, C. — 13th January 1992

We concur,

Norman Lamont — Sydney Chapman — Two of the Lords Commissioners of Her Majesty’s Treasury — 10th January 1992

Explanatory note

(This note is not part of the Order)

This Order further amends the Insolvency Fees Order 1986 with effect from 14 January 1992 by altering the scales (so far as they relate to amounts over £5 million) for two of the ad valorem fees charged in insolvency proceedings. The changes will result in reduced ad valorem fees for amounts over £20 million.

Footnotes

[^f00001]: 1986 c. 45.

[^f00002]: S.I. 1986/2030, amended by S.I.1988/95, S.I. 1990/560 and S.I. 1991/496.