
1 
This Order may be cited as the Insolvency (Monetary Limits) (Amendment) Order (Northern Ireland) 2006 and shall come into operation on 27 March 2006.
2 
In this Order—
 “the principal Order” means the Insolvency (Monetary Limits) Order (Northern Ireland)1991.
3 
For the entries in columns 1, 2 and 3 set out in the Schedule to the principal Order there shall be substituted the entries set out in the Schedule.
4 
After Article 3 of the principal Order there shall be inserted—“
4 
The High Court shall, in determining the value of the bankrupt’s interest for the purposes of Article 286A(2), disregard that part of the value of the property in which the bankrupt’s interest subsists which is equal to the value of:
(a) any loans secured by mortgage or other charge against the property;
(b) any other third party interest; and
(c) the reasonable costs of sale.”
Sealed with the Official Seal of the Department of Enterprise, Trade and Investment on 2 February 2006.
Michael J Bohill
A senior officer of the
Department of Enterprise, Trade and Investment

SCHEDULE
Article 3


Column 1Article of Order Column 2Short Description Column 3Monetary Amount
247(1)(a) Maximum level of unsecured bankruptcy debts on debtor’s petition for case to be referred to insolvency practitioner to assess possibility of voluntary arrangement with creditors. £40,000
247(1)(b) Minimum potential value of bankrupt’s estate for case to be referred as described above. £4,000
286A(2) Minimum value of interests in a dwelling-house for application by trustee for order for sale, possession or an order under Article 286. £1,000
325(1) and (3) Minimum amount of concealed debt, or value of property concealed or removed, determining criminal liability under the Article. £1,000
329(1) Minimum value of property taken by a bankrupt out of Northern Ireland, determining his criminal liability. £1,000
331(1) Maximum amount of credit which bankrupt may obtain without disclosure of his status. £500
335(2)(d) Minimum value of goods removed by the bankrupt, determining his liability to arrest. £1,000