
2024 No. 152
Insolvency
The Insolvency (Monetary Limits) (Amendment) Order (Northern Ireland) 2024
Laid before the Assembly in draft 
Made 2nd July 2024
Coming into operation 8th July 2024
The Department for the Economy, in exercise of the powers conferred by Article 362(1)(b) and (2) of the Insolvency (Northern Ireland) Order 1989, makes the following Order.
Citation and commencement
1 
This Order may be cited as the Insolvency (Monetary Limits) (Amendment) Order (Northern Ireland) 2024 and comes into operation on 8th July 2024.
Interpretation
2 
In this Order—
 “the principal Order” means the Insolvency (Monetary Limits) (Northern Ireland) Order 1991.
Amendments to Part 1 of the Schedule to the principal Order
3 
Column 3 (monetary amount) of Part 1 of the Schedule to the principal Order is amended as follows–
(a) in the entry for the maximum amount of a person’s debts, for “£20,000” substitute “£50,000”.
(b) in the entry for the maximum amount of monthly surplus income, for “£50” substitute “£75”.
(c) in the entry for the maximum total value of property, for “£1,000” substitute “£2,000”.
Transitional provision
4 
The amendments made by this Order apply only to applications for a debt relief order made under Article 208B(1) of the Insolvency (Northern Ireland) Order 1989 on or after the date on which this Order comes into operation.
Sealed with the Official Seal of the Department for the Economy on 2nd July 2024
Conor Murphy
Minister for the Economy
