The Insolvency Practitioners and Insolvency Services Account (Fees) (Amendment) Order 2008

• Citation: S.I. 2008/3
• Sections: 4

Section 1 Citation and commencement

This Order may be cited as the Insolvency Practitioners and Insolvency Services Account (Fees) (Amendment) Order 2008 and shall come into force on 30th January 2008.

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

Subject to article 4, in article 2 of the principal Order, for paragraphs (2), (2A) and (2B), there is substituted the following—

(2) On or before 6th April 2008 and on or before 6th April in each subsequent 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 that section, a fee calculated by multiplying £207 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.

Section 4 Amendment to the Insolvency Practitioners and Insolvency Services Account (Fees) 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(2B) 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 2008 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 2008 and ending with the day before the day on which this article comes into force.

(2) The insertion of article 2(2) 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 2008 were authorised to act as insolvency practitioners by virtue of membership of that body.