Source: http://www.legislation.gov.uk/ukpga/1979/53/crossheading/charging-orders
Timestamp: 2020-01-19 07:11:22
Document Index: 427645614

Matched Legal Cases: ['art. 2', 'art. 2', 'art. 3', 'art. 2', 'art. 3', 'art. 2', 'art. 3', 'art. 2', 'art. 2']

Changes over time for: Cross Heading: Charging orders
There are currently no known outstanding effects for the Charging Orders Act 1979, Cross Heading: Charging orders.
2 Property which may be charged.E+W
(1)Subject to subsection (3) below, a charge may be imposed by a charging order only on—
(a)any interest held by the debtor beneficially—
(i)in any asset of a kind mentioned in subsection (2) below, or
(b)any interest held by a person as trustee of a trust (“the trust”), if the interest is in such an asset or is an interest under another trust and—
(i)the judgment or order in respect of which a charge is to be imposed was made against that person as trustee of the trust, or
(ii)the whole beneficial interest under the trust is held by the debtor unencumbered and for his own benefit, or
(iii)in a case where there are two or more debtors all of whom are liable to the creditor for the same debt, they together hold the whole beneficial interest under the trust unencumbered and for their own benefit.
(2)The assets referred to in subsection (1) above are—
(i)government stock,
(ii)stock of any body (other than a building society) incorporated within England and Wales,
(iii)stock of any body incorporated outside England and Wales or of any state or territory outside the United Kingdom, being stock registered in a register kept at any place within England and Wales,
(iv)units of any unit trust in respect of which a register of the unit holders is kept at any place within England and Wales, or
(c)funds in court.
(3)In any case where a charge is imposed by a charging order on any interest in an asset of a kind mentioned in paragraph (b) or (c) of subsection (2) above, the court making the order may provide for the charge to extend to any interest or dividend payable in respect of the asset.
(2)The M2Land Charges Act 1972 and the [F15Land Registration Act 2002] shall apply in relation to charging orders as they apply in relation to other orders or writs issued or made for the purpose of enforcing judgments.
[F17(4A)Subsections (4C) to (4E) apply where—
(a)a debtor is required to pay a sum of money in instalments under a judgment or order of the High Court [F18or the family court] or [F19the county court] (an “instalments order”), and
(6)Where a charging order has been protected by an entry registered under the Land Charges Act 1972 or the [F15Land Registration Act 2002], an order under subsection (5) above discharging the charging order may direct that the entry be cancelled.
F15Words in s. 3(2)(6) substituted (13.10.2003) by Land Registration Act 2002 (c. 9), ss. 133, 136(2), Sch. 11 para. 15 (with s. 129); S.I. 2003/1725, art. 2(1)
F16S. 3(3) repealed (13.10.2003) by Land Registration Act 2002 (c. 9), ss. 135, 136(2), Sch. 13 (with s. 129, Sch. 12 para. 1); Sch. 11 para. 15 (with s. 129); S.I. 2003/1725, art. 2(1)
F17S. 3(4A)-(4E) inserted (1.10.2012) by Tribunals, Courts and Enforcement Act 2007 (c. 15), ss. 93(3)(6), 148; S.I. 2012/1312, art. 3
F18Words in s. 3(4A)(a) inserted (22.4.2014) by Crime and Courts Act 2013 (c. 22), s. 61(3), Sch. 10 para. 38(2); S.I. 2014/954, art. 2(d) (with art. 3) (with transitional provisions and savings in S.I. 2014/956, arts. 3-11)
F19Words in s. 3(4A)(a) substituted (22.4.2014) by Crime and Courts Act 2013 (c. 22), s. 61(3), Sch. 9 para. 52; S.I. 2014/954, art. 2(c) (with art. 3) (with transitional provisions and savings in S.I. 2014/956, arts. 3-11)
C3S. 3(1)(2)(4)(6) extended by Insolvency Act 1986 (c. 45, SIF 66), s. 313(4)(5) (s. 313(5) of the amending Act inserted (1.4.2004) by 2002 c. 40, ss. 261(2)(c), 279 (with s. 249(6)); S.I. 2003/2093, art. 2(2), Sch. 2
[F203APower to set financial thresholdsE+W
(1)The Lord Chancellor may by regulations provide that a charge may not be imposed by a charging order for securing the payment of money of an amount below that determined in accordance with the regulations.
(2)The Lord Chancellor may by regulations provide that a charge imposed by a charging order may not be enforced by way of order for sale to recover money of an amount below that determined in accordance with the regulations.
(b)include such transitional provision as the Lord Chancellor thinks fit.
(5)The Lord Chancellor may not make the first regulations under subsection (1) or (2) unless (in each case) a draft of the statutory instrument containing the regulations has been laid before, and approved by a resolution of, each House of Parliament.
(6)A statutory instrument containing any subsequent regulations under those subsections is subject to annulment in pursuance of a resolution of either House of Parliament.]
F20S. 3A inserted (17.5.2012) by Tribunals, Courts and Enforcement Act 2007 (c. 15), ss. 94, 148; S.I. 2012/1312, art. 2
4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F21E+W
F21S. 4 repealed by Insolvency Act 1985 (c. 65, SIF 66), s. 235, Sch. 10 Pt. III