The Insolvency (Northern Ireland) Order 1989 (Prescribed Part) (Amendment) Order (Northern Ireland) 2022
The Insolvency (Northern Ireland) Order 1989 (Prescribed Part) Order (Northern Ireland) 2006 (S.R. 2006 No. 25) sets out the method of calculation of the prescribed part. The prescribed part is the part of the property of a company that a liquidator, administrator, or receiver must reserve for unsecured creditors, under Article 150A of the insolvency (Northern Ireland) Order 1989, and which would otherwise be available to satisfy claims secured by a floating charge. The prescribed part is subject to a limit.