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118. Power to set financial thresholds

(1) The Board, on the recommendation of the Chief Justice, may by rules 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 such rules.
(2) The Board, on the recommendation of the Chief Justice, may by rules 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 such rules.
(3) Rules made under this section may —
(a) make different provision for different cases;
(b) include such transitional provision as the chairman of the Board, after consulting the Chief Justice, thinks fit.