The Insolvency (Amendment) Rules (Northern Ireland) 2006

PART 10 AMENDMENTS TO PART 12 OF THE PRINCIPAL RULES

Amendments to Rule 12.02

103.  In Rule 12.02—

(a) after the words “winding up” where they first appear, there shall be inserted “, administration” and after the words “winding up” where they appear for the second time, there shall be inserted “or the administration”; and

(b) there shall be inserted as paragraph (2), and Rule 12.02 shall become Rule 12.02(1), the following—

“(2) The costs associated with the prescribed part shall be paid out of the prescribed part.”.

Amendments to Rule 12.03

104.  In Rule 12.03—

(a) in paragraph (1) for the words “in both winding up and bankruptcy” there shall be substituted “in administration, winding up and bankruptcy”;

(b) for sub-paragraph (a) of paragraph (2) there shall be substituted—

“(a) in bankruptcy, any fine imposed for an offence, and any obligation (other than an obligation to pay a lump sum or to pay costs) arising under an order made in family proceedings or any obligation arising under a maintenance assessment made under the Child Support (Northern Ireland) Order 1991;”.

(c) in sub-paragraph (b) of paragraph (2) before the words “winding up” there shall be inserted “administration,” and at the end after “1990” there shall be inserted the words “or under Parts 2, 3 or 4 of the Proceeds of Crime Act 2002”;

(d) in paragraph (4) after “Article 160(2)” there shall be inserted “, Rule 2.089”;

(e) in sub-paragraph (a) of paragraph (4) before the words “a winding up” there shall be inserted “an administration,”; and

(f) in sub-paragraph (c) of paragraph (4) before the words “a winding up” where they occur for the first time there shall be inserted “an administration or” and after the word “bankruptcy” there shall be inserted “, an administration”.

Amendments to Rule 12.12

105.  In Rule 12.12(1) after the words “Rule 12.11” there shall be inserted “and Rule 12.13”.

Insertion of new Rule 12.23

106.  After Rule 12.22 there shall be inserted—

“Notice of order under Article 150A(5)

12.23.— (1) Where the court makes an order under Article 150A(5), it shall as soon as reasonably practicable send two sealed copies of the order to the applicant and a sealed copy to any other insolvency practitioner who holds office in relation to the company.

(2) Where the court has made an order under Article 150A(5), the liquidator, administrator or receiver, as the case may be, shall, as soon as reasonably practicable, send a sealed copy of the order to the company.

(3) Where the court has made an order under Article 150A(5), the liquidator, administrator or receiver, as the case may be, shall as soon as reasonably practicable, give notice to each creditor of whose claim and address he is aware.

(4) Paragraph (3) shall not apply where the court directs otherwise.

(5) The court may direct that the requirement in paragraph (3) is complied with by the liquidator, administrator or receiver, as the case may be, publishing a notice in such newspaper as he thinks most appropriate for ensuring that it comes to the notice of the company’s unsecured creditors stating that the court has made an order disapplying the requirement to set aside the prescribed part.

(6) The liquidator, administrator or receiver shall send a copy of the order to the registrar as soon as reasonably practicable after the making of the order.

• [E.R. 12.22]”

Insertion of Schedule 4

107.  After Schedule 3 there shall be inserted—

Rules 4.134A, 4.134B, 4.156A and 6.135A

“SCHEDULE 4 DETERMINATION OF INSOLVENCY OFFICE HOLDER'S REMUNERATION

As regards the determination of the remuneration of trustees and liquidators the realisation and distribution scales are as set out in the table below—

The realisation scale

(i) on the first £5000 or fraction thereof	20%
(ii) on the next £5000 or fraction thereof	15%
(iii) on the next £90,000 or fraction thereof	10%
(iv) on all further sums realised	5%

The distribution scale

(i) on the first £5000 or fraction thereof	10%
(ii) on the next £5000 or fraction thereof	7.5%
(iii) on the next £90,000 or fraction thereof	5%
(iv) on all further sums distributed	2.5%.”