
1 
This Order may be cited as the Insolvency (Northern Ireland) Order 1989 (Prescribed Part) (Amendment) Order (Northern Ireland) 2022 and comes into operation on 4th November 2022.
2 

(1) The Insolvency (Northern Ireland) Order 1989 (Prescribed Part) Order (Northern Ireland) 2006 is amended as follows–
(2) In Article 3(2) for “£600, 000” substitute “£800,000”.
(3) The substitution made by paragraph (2) does not apply where the company’s net property is available to be distributed to the holder of a relevant floating charge.
(4) A relevant floating charge is one–
(a) created before the date this Order comes into operation, and
(b) in respect of which no floating charge over any of the company’s assets created on or after that date ranks equally or in priority.
Sealed with the Official Seal of the Department for the Economy on 4th October 2022
Colin Jack
A senior officer of the Department for the Economy
