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115. Charging orders

(1) Where, under a judgment or order of the Courts, a person (the "debtor") is required to pay a sum of money to another person (the "creditor") then, for the purposes of enforcing that judgment or order, the Court of First Instance may make an order in accordance with the provisions of this Part 6 imposing on any such property of the debtor as may be specified in the order a charge for securing the payment of any money due or to become due under the judgment or order.
(2) An order under subsection (1) is referred to in these Regulations as a "charging order".
(3) A person may apply to the Court of First Instance for a charging order to enforce more than one judgment or order.
(4) In deciding whether to make a charging order, the Court shall consider all the circumstances of the case and, in particular, any evidence before it as to —
(a) the circumstances (including, where relevant and appropriate, the personal circumstances) of the debtor; and
(b) whether any other creditor of the debtor would be likely to be unduly prejudiced by the making of the order.
(5) Subsections (6) and (7) apply where, under a judgment or order of the Courts, a debtor is required to pay a sum of money by instalments.
(6) The fact that there has been no default in payment of the instalments does not prevent a charging order from being made in respect of that sum.
(7) But if there has been no default, the Court must take that into account when considering the circumstances of the case under subsection (4).