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BANKRUPTCY, ENGLAND

THE BANKRUPTCY (AMENDMENT NO. 2) RULES 1978
1978 No. 1224 (L. 28)

Made…………………………………………15th August 1978
Laid before Parliament……………………25th August 1978
Coming into Operation……………………1st October 1978

The Lord Chancellor, in exercise of the powers conferred on him by section 132 of the Bankruptcy Act 1914(a), with the concurrence of the Secretary of State for Trade, and after consulting the committee appointed under section 10 of the Insolvency Act 1976(b), hereby makes the following Rules:-
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1.-(1) These Rules may be cited as the Bankruptcy (Amendment No. 2) Rules 1978 and shall come into operation on 1st October 1978.

(2) The Interpretation Act 1889(c) shall apply to the interpretation of these Rules as it applies to the interpretation of an Act of Parliament.

2. For Appendix III to the Bankruptcy Rules 1952(d) as amended (e) there shall be substituted the Appendix set out in Schedule I to these Rules.

Dated 1st August 1978
Elwyn-Jones, C.

I concur,
Edmund Dell,
Secretary of State for Trade
Dated 15th August 1978
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(a) 1914 c 59.
(b) 1976 c. 60
(c) 1889 c. 63. 
(d) S.I. 1952/2113.
(e) The relevant amending instrument is S.I. 1974/1868.

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APPENDIX III

SCALE OF ALLOWANCES TO AUCTIONEERS AND BROKERS

The following charges shall be subject to reduction by agreement with the Official Receiver or the trustee, or to increase with the sanction of the committee of inspection and the Secretary of State for Trade.

Chattels	£	
For inventory only, not exceeding one foolscap or A4 ISO page and one copy………	7.50	
For every additional page and one copy………………………………………………	2.00	
For inventory and valuation:-

On the first £1,000 …………………………………………..

On the next £1,500 …………………………………………..
Above £2,500 ………………………………………………..	

5.00 per cent

Minimum Fee £20.00

2.50 per cent
1.75 per cent
1.75 per cent	
For sales by private contract based on the valuation, half the above charges for inventory and valuation	

For sales by auction, in addition to such out-of-pocket expenses as may 
be authorized at the time by the Official Receiver or trustee:-

On the first £3,000 …………………………………………………..

Above £3,000 …………………………………………………………	

7.50 per cent

5.00 per cent	

Where the sale is held on the auctioneers’ premises, an inclusive charge to include all out-of-pocket expenses except costs of removal:-

On the first £3,000 ………………………………………………….

Above £3,000 ………………………………………………………...	

12.50 per cent

10,00 per cent	
Land	

For valuation of property and reporting thereon, a fee to be fixed by agreement but not to exceed:-

On the first £1,000 …………………………………………………

On the next £9,000 …………………………………………………

Above £10,000 …………………………………………………......	

1.050 per cent

0.525 per cent

0.250 per cent	

For sales by auction, including prior valuations, for determining amount of reserve bids and for sales by private contract, including prior valuation:-

On the first £300 …………………………………………………….

On the next £1,700 …………………………………………………..

Above up to £5,000 ………………………………………………….

Above £5,000 ……………………………………………………….	

5.00 per cent

2.50 per cent

1.50 per cent

1.00 per cent	

Costs of surveys, dilapidations and specifications in discretion of specification in direction of 
Taxing Officer	{	

Not exceeding £5.25 per £100 on the amount of the 
settlement or on the estimated cost of complying
with the schedule of dilapidations. Minimum fee 
£5.25	

The foregoing charges are to be in addition to such out-of-pocket expenses as may be authorized at the time by the Official Receiver or trustee.
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