Personal Insolvency Act 2012 (Prescribed Fees in Bankruptcy Matters) Regulations 2013

JurisdictionIreland
CitationIR SI 465/2013

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of 6th December, 2013.

The Insolvency Service of Ireland, in exercise of the powers conferred on it by section 3 and section 20 (as amended by section 40 of the Courts and Civil Law (Miscellaneous Provisions) Act 2013 (No. 32 of 2013)) of the Personal Insolvency Act 2012 (No. 44 of 2012), and with the consent of the Minister for Justice and Equality, hereby makes the following regulations:

Citation and Purpose

1. (1).These Regulations may be cited as the Personal Insolvency Act 2012 (Prescribed Fees in Bankruptcy Matters) Regulations 2013.

(2) These Regulations are made for the purposes of prescribing the fees due to be paid to the Insolvency Service and when they fall due in respect of the performance of the functions of the Official Assignee under the Bankruptcy Act 1988 and any other relevant enactment.

Definitions

2. In these Regulations—

“adjudication” means adjudication in bankruptcy in accordance with the Bankruptcy Act 1988 ;

“bankruptcy matter” shall be construed in accordance with the Bankruptcy Act 1988 ;

“the Court” has the same meaning as it has in section 3 of the Bankruptcy Act 1988 ;

“gross proceeds” in relation to property (including property comprised in a residual estate), means the realised value of the property without any deduction for any costs or expenses incurred in connection with its realisation and irrespective of any mortgage, charge, lien or other security to which it is subject;

“gross value” in relation to property, means the value of the property without any deduction for any costs or expenses that have been, or may be, incurred in connection with its realisation and irrespective of any mortgage, charge, lien or other security to which it is subject;

“Official Assignee” has the same meaning as it has in section 3 of the Bankruptcy Act 1988 ;

“property” has the same meaning as it has in section 3 of the Bankruptcy Act 1988 ;

“realise” in relation to property, includes its sale or any other manner by which it is brought to credit and cognate words shall be construed accordingly;

“trustee in bankruptcy” means a person appointed as trustee under Part V of the Bankruptcy Act 1988 .

Fees Payable in Bankruptcy Matters

3. (1) The fee payable to the Insolvency Service for general administrative work carried out by the Official Assignee in the performance of his functions in respect of a bankrupt’s estate (or, as applicable, the estate of a deceased person under Part VI of the Bankruptcy Act 1988 ) shall be the amount specified in Column (2) of Table 1 of the Schedule opposite the relevant gross value of the property in the bankrupt’s (or, as applicable, deceased’s) estate as set out in Column (1) of the said Table.

(2) The fee referred to in Regulation 3(1) shall fall due for payment on the following:

(a) in the case of an adjudication under section 15 of the Bankruptcy Act 1988 founded on a petition of a debtor or an adjudication under section 105 of the Bankruptcy Act 1988 of an arranging debtor, on adjudication;

(b) in the case of adjudication under section 14 of the Bankruptcy Act 1988 founded on a petition of a creditor, on the date of the final hearing of the statutory sitting referred to in section 17(3) of the Bankruptcy Act 1988 ;

(c) in the case of the administration of a deceased’s estate under Part VI of the Bankruptcy Act 1988 , on the making of the order for administration under Section 117 of the Bankruptcy Act 1988 .

(3) For the purposes of Regulation 3(1), the gross value of the property in the bankrupt’s (or, as applicable, deceased’s) estate shall be the gross value of such property on the date on which the fee falls due for payment in accordance with Regulation 3(2).

4. (1) The fee payable to the Insolvency Service in respect of the performance by the Official Assignee of his functions in relation to the getting in and realisation of property in a bankrupt’s estate (or, as applicable, the estate of a deceased person under Part VI of the Bankruptcy Act 1988 ) from time to time, shall be the amount calculated by reference to the aggregate gross proceeds of all such property in accordance with Table 2 of the Schedule.

(2) If for any reason the estate of a bankrupt (or, as applicable, the estate of a deceased person under Part VI of the Bankruptcy Act 1988 ) is not fully distributed at the first...

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