The Insolvency (Northern Ireland) Order 1989, Article 59A (Appointed Date) Order (Northern Ireland) 2006

Statutory Rules of Northern Ireland

2006 No. 24

INSOLVENCY

The Insolvency (Northern Ireland) Order 1989, Article 59A (Appointed Date) Order (Northern Ireland) 2006

Made

2nd February 2006

Coming into operation

27th March 2006

The Department of Enterprise, Trade and Investment(1), in exercise of the powers conferred upon it by Article 59A(3)(a) and (4) of the Insolvency (Northern Ireland) Order 1989(2) and of every other power enabling it in that behalf hereby makes the following Order:

Citation and commencement

1.  This Order may be cited as the Insolvency (Northern Ireland) Order 1989, Article 59A (Appointed Date) Order (Northern Ireland) 2006.

Appointed Date

2.  The date appointed under Article 59A(3)(a) of the Insolvency (Northern Ireland) Order 1989 is 27 March 2006.

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

Explanatory Note

(This note is not part of the Order)

This Order provides the date required by Article 59A(3)(a) of the Insolvency (Northern Ireland) Order 1989 which is prospectively inserted by Article 5(1) of the Insolvency (Northern Ireland) Order 2005. Floating charges created on or after this date will be subject to the provisions of Article 59A of the Insolvency (Northern Ireland) Order 1989 which prohibits the appointment of an administrative receiver in respect of such a charge unless it falls within one of the exceptions specified in Articles 59B to 59I.

(1)

Formerly the Department of Economic Development; see S.I. 1999/283 (N.I. 1), Article 3(5)

(2)

S.I. 1989/2405 (N.I. 19); Article 59A is inserted into the Insolvency (Northern Ireland) Order 1989 by Article 5(1) of the Insolvency (Northern Ireland) Order 2005 (S.I. 2005/1455 (N.I. 10))