The Insolvency Practitioners and Insolvency Services Account (Fees) (Amendment) (No. 2) Order 2005

• Citation: S.I. 2005/3524
• Sections: 4

Section 1 Citation and commencement

This Order may be cited as the Insolvency Practitioners and Insolvency Services Account (Fees) (Amendment) (No. 2) Order 2005 and shall come into force on 30 th January 2006, except for article 3(2), which shall come into force on 1st April 2006.

Section 2 Amendment to the Insolvency Practitioners and Insolvency Services Account Order 2003

The Insolvency Practitioners and Insolvency Services Account (Fees) Order 2003 (“the principal Order”) is amended as set out below.

Section 3 Amendment to the Insolvency Practitioners and Insolvency Services Account Order 2003

(1) Subject to article 4, for paragraph (2) of article 2 of the principal Order, there is substituted the following—

(2) On or before 1st April each year, there shall be paid to the Secretary of State by each body recognised pursuant to section 391 in respect of the maintenance of that body’s recognition pursuant to section 391, a fee calculated as set out in paragraphs (2A) and (2B) below.

(2A) In respect of the fee due on or before 1st April 2006, the fee shall be calculated by multiplying £150 by the number of persons who as at the preceding 1st January in that year were authorised to act as insolvency practitioners by virtue of membership of that body.

(2B) In respect of the fee due on or before 1st April in each subsequent year, the fee shall be calculated by multiplying £200 by the number of persons who as at the preceding 1st January in that year were authorised to act as insolvency practitioners by virtue of membership of that body.

(2) In paragraphs (2), (3), (4) and (5) of article 3 of the principal Order, for “£2,000” in each place where it is mentioned, there is substituted “£2,100”.

Section 4 Amendment to the Insolvency Practitioners and Insolvency Services Account Order 2003

(1) This article applies to a body recognised pursuant to section 391 of the Insolvency Act 1986 that—

(a) pursuant to article 2(2) of the principal Order (as it stood before the coming into force of this Order) makes a payment by reference to the number of persons who as at 1st January 2006 were authorised to act as insolvency practitioners by virtue of membership of that body; and

(b) makes that payment in the period commencing on 1st January 2006 and ending with the day before the day on which this article comes into force.

(2) The insertion of article 2(2A) into the principal Order by article 3 of this Order shall not require a body to which this article applies to make any further payment by reference to the number of persons who as at 1st January 2006 were authorised to act as insolvency practitioners by virtue of membership of that body.