104.—(1) In deciding whether to make a charging order, the court must consider all the circumstances of the case, and in particular any evidence before it as to—
(a)the personal circumstances of the debtor; and
(b)whether any other person would be likely to be unduly prejudiced by the making of the order.
(2) A charging order—
(a)must specify the interest on which the charge is imposed; and
(b)may, as the court thinks fit, be made absolutely or subject to conditions as to the time when the charge is to become enforceable or as to other matters.
(3) A charge imposed by a charging order has the like effect and is enforceable in the same courts and in the same manner as an equitable charge created by the debtor by writing under the debtor’s hand.
(4) The court by which a charging order was made may at any time, on the application of the debtor or the collecting authority on whose application the order was made, make an order discharging or varying the charging order.
(5) Where a charging order has been protected by an entry registered under the Land Charges Act 1972(1) or the Land Registration Act 2002(2), an order under paragraph (4) discharging the charging order may direct that the entry be cancelled.
Commencement Information
I1Reg. 104 in force at 6.4.2010, see reg. 1