Citation and commencement

1. This Order may be cited as the Insolvency Practitioners and Insolvency Services Account (Fees) (Amendment) Order 2007 and shall come into force on 1st April 2007.

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

2.The Insolvency Practitioners and Insolvency Services Account (Fees) Order 2003( 2 ) (“the principal Order”) is amended as set out below.

3. In paragraphs (3), (4) and (5) of article 3 of the principal Order, for “£2,100” in each place where it occurs, there is substituted “£2,500”.

4. In the table of fees in paragraph 2 of the Schedule to the principal Order, in relation to fee No. 4, for the description of the fee and the circumstances in which it is payable given in the second column and for the amount of the fees payable given in the third column, there is substituted the following—

“ Electronic funds systems ( CHAPs and BACs etc. ) fees

On the making or remaking of a transfer in respect of funds held in the Insolvency Services Account on an application made by—

(a) a liquidator pursuant to regulations 7 or 8;

(b) a trustee pursuant to regulations 22 or 23; or

(c) any person claiming pursuant to regulation 32, any monies held in the Insolvency Services Account,

there shall be payable out of the assets of the company, the estate of the bankrupt or, as the case may be, by the claimant, a fee in respect of that transfer as follows:

(i) where it is made through the Clearing House Automated Payments System (CHAPs), a fee of £10

(ii) where it is made through the Bankers’ Clearing System (BACs) or any electronic funds transfer system other than CHAPs, a fee of £0.15. ” .