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Statutory Rules of Northern Ireland |
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You are here: BAILII >> Databases >> Statutory Rules of Northern Ireland >> The Insolvency (Monetary Limits) (Amendment) Order (Northern Ireland) 2006 No. 26 URL: http://www.bailii.org/nie/legis/num_reg/2006/20060026.html |
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| Made | 2nd February 2006 | ||
| To be laid before Parliament under paragraph 7(3) of the Schedule to the Northern Ireland Act 2000 | |||
| Coming into operation | 27th March 2006 |
Amendments to the Schedule to the principal Order
3.
For the entries in columns 1, 2 and 3 set out in the Schedule to the principal Order there shall be substituted the entries set out in the Schedule.
Matters to be disregarded in determining the value of an interest for the purposes of Article 286A(2)
4.
After Article 3 of the principal Order there shall be inserted—
Sealed with the Official Seal of the Department of Enterprise, Trade and Investment on
2 February 2006.
L.S.
Michael J Bohill
A senior officer of the Department of Enterprise, Trade and Investment
|
Column 1 Article of Order |
Column 2 Short Description |
Column 3 Monetary Amount |
| 247(1)(a) | Maximum level of unsecured bankruptcy debts on debtor's petition for case to be referred to insolvency practitioner to assess possibility of voluntary arrangement with creditors. | £40,000 |
| 247(1)(b) | Minimum potential value of bankrupt's estate for case to be referred as described above. | £4,000 |
| 286A(2) | Minimum value of interests in a dwelling-house for application by trustee for order for sale, possession or an order under Article 286. | £1,000 |
| 325(1) and (3) | Minimum amount of concealed debt, or value of property concealed or removed, determining criminal liability under the Article. | £1,000 |
| 329(1) | Minimum value of property taken by a bankrupt out of Northern Ireland, determining his criminal liability. | £1,000 |
| 331(1) | Maximum amount of credit which bankrupt may obtain without disclosure of his status. | £500 |
| 335(2)(d) | Minimum value of goods removed by the bankrupt, determining his liability to arrest. | £1,000 |
| Article | Current Monetary Amount | New Monetary Amount |
| 247(1)(a) | £20,000 | £40,000 |
| 247(1)(b) | £2,000 | £4,000 |
| 325(1) and (3) | £500 | £1,000 |
| 329(1) | £500 | £1,000 |
| 331(1) | £250 | £500 |
| 335(2)(d) | £500 | £1,000 |
[2] S.I. 1989/2405 (N.I. 19); Article 362(1)(b) has been modified in a manner which is not relevant for the purposes of this Orderback
[4] Article 286A was inserted into the Insolvency (Northern Ireland) Order 1989 by Article 17(3) of the Insolvency (Northern Ireland) Order 2005 S.I 2005/1455 (N.I. 10)back
