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Insolvency Act 1986

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Changes over time for: Section 418

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Version Superseded: 24/02/2009

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Status:

Point in time view as at 08/10/2004. This version of this provision has been superseded. Help about Status

Changes to legislation:

Insolvency Act 1986, Section 418 is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

418 Monetary limits (bankruptcy).E+W

(1)The Secretary of State may by order prescribe amounts for the purposes of the following provisions in the second Group of Parts—

section 273 (minimum value of debtor’s estate determining whether immediate bankruptcy order should be made; small bankruptcies level);

  • [F1section 313A (value of property below which application for sale, possession or charge to be dismissed);]

  • section 346(3) (minimum amount of judgment, determining whether amount recovered on sale of debtor’s goods is to be treated as part of his estate in bankruptcy);

  • section 354(1) and (2) (minimum amount of concealed debt, or value or property concealed or removed, determining criminal liability under the section);

  • section 358 (minimum value of property taken by a bankrupt out of England and Wales, determining his criminal liability);

  • section 360(1) (maximum amount of credit which bankrupt may obtain without disclosure of his status);

  • section 361(2) (exemption of bankrupt from criminal liability for failure to keep proper accounts, if unsecured debts not more than the prescribed minimum);

  • section 364(2)(d) (minimum value of goods removed by the bankrupt, determining his liability to arrest);

and references in the second Group of Parts to the amount prescribed for the purposes of any of those provisions, and references in those provisions to the prescribed amount, are to be construed accordingly.

(2)An order under this section may contain such transitional provisions as may appear to the Secretary of State necessary or expedient.

(3)An order under this section shall be made by statutory instrument subject to annulment in pursuance of a resolution of either House of Parliament.

Textual Amendments

F1Words in s. 418(1) inserted (1.4.2004) by 2002 c. 40, ss. 261(6), 279 (with s. 249(6)); S.I. 2003/2093, art. 2(2), Sch. 2 (subject to arts. 3-8 (as amended by S.I. 2003/2332, art. 2))

Modifications etc. (not altering text)

C1S. 418 applied (with modifications) by S.I. 1986/1999, art. 3, Sch. 1 Pt. II

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