2009 No. 465
The Insolvency Proceedings (Monetary Limits) (Amendment) Order 2009
Made
Laid before Parliament
Coming into force
The Secretary of State, in exercise of the powers conferred by section 418 of the Insolvency Act 19861, makes the following Order:—
Citation, commencement and interpretation1
1
This Order may be cited as the Insolvency Proceedings (Monetary Limits) (Amendment) Order 2009 and comes into force on 6th April 2009.
2
In this Order—
“the Act” means the Insolvency Act 1986, and
“the principal Order” is the Insolvency Proceedings (Monetary Limits) Order 19862.
Amendments to the principal Order
2
In article 3 of the principal Order, for “(bankruptcy)” substitute “(bankruptcy and debt relief orders)”.
3
In Part 2 of the Schedule to the principal Order,
a
at the beginning of the list insert—
251S(4)
Maximum amount of credit which a person in
respect of whom a debt relief order is made may obtain without disclosure of his status
£500
b
at the end of the list insert—
Schedule 4ZA—
Monetary conditions which must be satisfied for a debt relief order to be made—
(a) paragraph 6(1)
(a) maximum amount of a person’s debts:
£15,000
(b) paragraph 7(1)
(b) maximum amount of monthly surplus income:
£50
(c) paragraph 8(1)
(c) maximum total value of property:
£300
(This note is not part of the Order)