The Insolvency Proceedings (Fees) (Amendment) Order 2010

EXPLANATORY NOTE

(This note is not part of the Order)

The Order makes amendments to the Insolvency Proceedings (Fees) Order 2004 (S.I 2004/593) (the “principal Order”). It increases the deposits payable in respect of bankruptcy and winding up petitions and also changes the calculation of the fees payable on bankruptcy and winding up.

Article 4 increase the fee payable to an insolvency practitioner appointed under section 273 of the Insolvency Act 1986 to prepare a report under section 274 of that Act (report into affairs of debtor petitioning for own bankruptcy).

Article 5 increases the amount of the deposits payable pursuant to article 6 of the principal Order on presenting a petition for bankruptcy or winding up.

Article 6 makes various amendments to the Table of Fees in Schedule 2 to the principal Order. It increases the fee payable for the performance by the official receiver of his general duties on the making of a winding-up order from £2,160 to £2,235. It also amends the fees payable to the Secretary of State on bankruptcy and winding-up orders.

Article 7 revokes the definitions of “excepted bankruptcy” and “excepted winding-up” in the principal Order. These definitions were inserted in the principal Order by the Insolvency Proceedings (Fees) (Amendment) Order 2009 (S.I. 2009/645). The amendments made by article 6 to the fees payable to the Secretary of State mean these definitions are no longer necessary.

Article 8 makes transitional arrangements. Amendments made by article 5 to the amount of deposits payable apply only to petitions presented on or after 6th April 2010. Amendments made by article 6 to fees listed in the Table of Fees apply only to bankruptcy and winding-up orders made on or after 6th April 2010.

No impact assessment has been prepared for this Order.