The Insolvency Proceedings (Fees) (Amendment) Order 2011

Made: 26th April 2011

Laid before Parliament: 28th April 2011

Coming into force: 1st June 2011

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

Citation and commencement

1

This Order may be cited as the Insolvency Proceedings (Fees) (Amendment) Order 2011 and comes into force on 1st June 2011.

Amendments to the Insolvency Proceedings (Fees) Order 2004

2

In the definition of “appropriate deposit” in article 6(1) of the Insolvency Proceedings (Fees) Order 2004[^f00002]—

• (a) in sub-paragraph (a), for “£1,000” substitute “£1,165”;

• (b) in sub-paragraph (b), for “£450” substitute “£525”; and

• (c) in sub-paragraph (c), for “£600” substitute “£700”.

Transitional Provision

3

The amendments made by this Order apply only to petitions presented on or after 1st June 2011.

Signed

Signed by authority of the Lord Chancellor

Jonathan Djanogly — Parliamentary Under Secretary of State — Ministry of Justice — 14th April 2011

We concur

Angela Watkinson — Michael Fabricant — Two of the Lords Commissioners of Her Majesty’s Treasury — 26th April 2011

Explanatory note

(This note is not part of the Order)

EXPLANATORY NOTE

This Order makes amendments to the Insolvency Proceedings (Fees) Order 2004 (the “principal Order”). Article 2 increases the amount of the deposits payable pursuant to article 6 of the principal Order on presenting a petition for bankruptcy or winding up.

Article 3 provides that the increases apply only to petitions presented on or after 1st June 2011.

A full impact assessment of the effect that the instrument will have on the costs of business and the voluntary sector is available from Policy Unit, The Insolvency Service, 21 Bloomsbury Street, London WC21B 3QW and is published with the Explanatory Memorandum alongside the instrument on www.legislation.gov.uk.

Footnotes

[^f00001]: 1986 c.45.

[^f00002]: S.I. 2004/593, amended by S.I. 2005/544, 2006/561, 2007/521, 2008/714, 2009/645 and 2010/732.