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Statutory Instrument 2006 No. 561The Insolvency Proceedings (Fees) (Amendment) Order 2006(The document as of February, 2008) STATUTORY INSTRUMENTS2006 No. 561INSOLVENCY, ENGLAND AND WALESFEESThe Insolvency Proceedings (Fees) (Amendment) Order 2006
The Lord Chancellor, in exercise of the powers conferred upon him by sections 414 and 415 of the Insolvency Act 1986[1], section 663(4) of the Companies Act 1985[2] and section 133 of the Bankruptcy Act 1914[3], 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 2006 and shall come into force on 1st April 2006 ("the commencement date"). Amendments to the Insolvency Proceedings (Fees) Order 2004 2.—(1) Subject to article 6, the Insolvency Proceedings (Fees) Order 2004[4] ("the principal Order"), shall be amended as set out below. (2) In the definition of appropriate deposit in article 6—
(b) in paragraph (b), for "£310", there is substituted "£325"; and (c) in paragraph (c), for "£370", there is substituted "£390". (3) In article 7(1), for "£335", there is substituted "£315". (This note is not part of the Order) This Order makes further amendments to the Insolvency Proceedings (Fees) Order 2004 (S.I. 2004/593) ("the 2004 Order"). Article 2(2) of this Order increases the amount of the various deposits payable pursuant to article 6 of the 2004 Order. Article 2(3) reduces the deposit payable under article 7(1) of the 2004 Order in connection with the registration of an individual voluntary arrangement and the performance by the official receiver of the functions of nominee in relation to such an arrangement. The Table of Fees in Schedule 2 to the 2004 Order is amended by article 2(4) of this Order so as to reduce the fee currently payable to the Secretary of State to register an individual voluntary arrangement, fee IVA1, from £35 to £15. These amendments are subject to the transitional provisions in Article 6. This Order also makes provision with respect to the Bankruptcy Fees Order 1984 (S.I. 1984/880, as amended), the Companies (Department of Trade and Industry) Fees Order 1985 (S.I. 1985/1784, as amended) and the Insolvency Fees Order 1986 (S.I. 1986/2030, as amended) which Orders were largely revoked by the 2004 Order. In the case of the Bankruptcy Fees Order 1984 and the Companies (Department of Trade and Industry) Fees Order 1985, certain fees continue to be applicable to cases that were commenced before 29th December 1986 under legislation which preceded the Insolvency Act 1986 (c.45). In the case of the Insolvency Fees Order 1986, certain fees are applicable to cases that were commenced after 29th December 1986 under the Insolvency Act 1986 but in respect of which a winding up or bankruptcy order was made before 1st April 2004 ("old cases"). The fees that continue to apply to the old cases are for the performance by the Secretary of State of his general duties fixed by reference to a percentage of an amount paid into the Insolvency Services Account by trustees, liquidators or the official receiver. The effect of the amendments made by articles 3, 4 and 5 of this Order is as follows—
(b) as regards any case where less than £100,000 has been paid into the Insolvency Services Account before the commencement date, fees are payable in relation to that proportion of payments into that account on or after the commencement date which takes the balance of sums paid into that account up to £100,000; no fees further fees are then payable. The percentage fees that are payable in relation to the first £100,000 paid into the Insolvency Services Account in old cases are as follows:
No regulatory impact assessment has been prepared for this Order. Notes: [1]1986 c.45.back [2]1985 c.6. Section 663 of the Companies Act 1985 was repealed by section 235 of, and Part II of Schedule 10 to, the Insolvency Act 1985. By virtue of paragraph 4 of Schedule 11 to the Insolvency Act 1986, section 663(4) of the Companies Act 1985 (and orders made under it which were in force immediately prior to 29th December 1986) remains in force in relation to a winding up by the court where the winding up commenced before 29th December 1986.back [3]1914 c.59. The Bankruptcy Act 1914 was repealed by section 235 of, and Part III of Schedule 10 to, the Insolvency Act 1985. By virtue of paragraph 10 of Schedule 11 to the Insolvency Act 1986, the Bankruptcy Act 1914 and secondary legislation made thereunder which was in force immediately prior to the 29th December 1986 remain in effect in relation to bankruptcy proceedings where the petition was presented before 29th December 1986.back [4]S.I. 2004/593, amended by S.I. 2005/544.back [5]S.I. 2001/761, was revoked by S.I. 2004/593 subject to savings in respect of Fee 10 and Fee 13 in the Schedule thereto.back [6]S.I. 1985/1784, amended by S.I. 1990/559 and S.I. 1991/494, was revoked by S.I. 2004/593 subject to savings in respect of Fee 3 in the Schedule thereto.back [7]S.I. 1984/880, as amended by S.I. 1985/1783, S.I. 1990/559 and S.I. 1991/494, was revoked by S.I. 2004/593 subject to savings in respect of Fee 13 in Table B.back [8]S.I.1986/1925 amended by S.I. 1987/1919, 1989/397, 1991/495, 1993/602, 1995/586, 1999/359, 1999/1022, 2001/763, 2002/1307, 2002/2712, 2003/1730, 2004/584, 2004/1070 and 2005/527.back ISBN0 11 074166 8 -- Back --
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