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The Disqualified Directors Compensation Orders (Fees) (England and Wales) Order 2016

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Citation, commencement and interpretation

1.—(1) This Order may be cited as the Disqualified Directors Compensation Orders (Fees) (England and Wales) Order 2016 and comes into force on 30th November 2016.

(2) In this Order—

“compensation order” means a court order under section 15A(1)(1) of the Company Directors Disqualification Act 1986; and

“compensation undertaking” means an undertaking accepted by the Secretary of State under section 15A(2) of the Company Directors Disqualification Act 1986.

Application

2.  This Order applies in relation to—

(a)compensation orders made by the courts in England and Wales; and

(b)compensation undertakings accepted in cases where the courts in England and Wales would have had jurisdiction to make a compensation order.

Fees payable in connection with compensation orders and compensation undertakings

3.—(1) The Secretary of State is to be paid a fee for performing the function of distributing to a creditor an amount received by the Secretary of State in respect of a compensation order or a compensation undertaking to which this Order applies.

(2) The fee is to be paid out of the amount received before such a distribution is made to a creditor.

(3) The fee means the aggregate of—

(a)the time spent by the appropriate officials carrying out the Secretary of State’s function under paragraph (1) in relation to all creditors specified in a compensation order or a compensation undertaking, multiplied by the hourly rate in accordance with the table in the Schedule; and

(b)any necessary disbursements or expenses properly incurred in carrying out that function,

divided equally between the total number of creditors specified in the compensation order or the compensation undertaking.

Value Added Tax

4.  Where Value Added Tax is chargeable in respect of the provision of a service for which a fee is payable by virtue of this Order, the amount of the Value Added Tax must be paid in addition to the fee.

Signed by authority of the Lord Chancellor

Oliver Heald

Minister of State

Ministry of Justice

27th October 2016

We concur

Stephen Barclay

Guto Bebb

Two of the Lords Commissioners of Her Majesty’s Treasury

31st October 2016

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