Section 94 — Tribunals, Courts and Enforcement Act 2007: Charging orders: power to set financial thresholds

Charging orders: power to set financial thresholds 94 In the Charging Orders Act 1979 (c. 53), after section 3 there is inserted— Power to set financial thresholds 3A 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.

3 Regulations under this section may—

a make different provision for different cases;

b include such transitional provision as the Lord Chancellor thinks fit.

4 The power to make regulations under this section is exercisable by statutory instrument.

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.