Citation and Commencement

1. This Order may be cited as the Insolvency Practitioners and Insolvency Services Account (Fees) (Amendment) Order 2015 and comes into force on 31st December 2015.

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

2.Article 2 (fees payable in connection with the recognition of professional bodies pursuant to section 391) of the Insolvency Practitioners and Insolvency Services Account (Fees) Order 2003( 2 ) is amended as follows—

(a) in paragraph (1) for “£4,500” substitute “£12,000”;

(b) in paragraph (2) for “£300” substitute “£360”.

3. The substitution made by article 2(b) of the fee payable in respect of the number of persons authorised to act as insolvency practitioners by virtue of membership of a body recognised pursuant to Section 391 (recognised professional bodies) of the Insolvency Act 1986( 3 ) applies only in respect of such persons who are so authorised as at 1st January 2016 and each subsequent 1st January.