Secured periodical payments definition

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Procedural guide—applications under Schedule 1 to the Children Act 1989

Procedural guide—applications under Schedule 1 to the Children Act 1989 An application under Schedule 1 to the Children Act 1989 (ChA 1989) will proceed in accordance with the standard procedure, unless the application is for periodical payments only (ie no capital orders are sought). Similarly where an application is made to vary an order, the fast-track procedure will only apply if the application concerns the variation of a periodical payments order and no form of capitalisation is sought. See Practice Note: Fast-track (shortened) financial remedy procedure. An application under ChA 1989, Sch 1 is made in the Family Court and allocated to a district judge. See Practice Notes: Procedure—Schedule 1 to the Children Act 1989 and Issuing financial proceedings in Form A (standard procedure). This Procedural Guide is primarily concerned with applications under the standard procedure. The pre-action protocol and overriding objective defined in the Family Procedure Rules 2010 (FPR 2010) apply to applications under ChA 1989, Sch 1—see Practice Note: Financial proceedings—pre-application requirements—Pre-application protocol (FPR 2010, PD 9A, Annex)....

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Periodical payments—drafting the order

This Practice Note provides guidance on drafting the terms of a periodical payments order (also known as spousal maintenance), including the financial remedy order issued as part of the standard orders project. It considers frequency, methods, and length of payment together with index linking. It also explains the court’s powers to make secured periodical payments orders, including what is an appropriate form of security and how to give effect to such an order.Care should be taken when drafting the terms of a periodical payments order to ensure that it reflects either the agreement reached, whether it is to be set out in a consent order or in the terms of an order made by the court. The Precedent: Standard order 2.1—financial remedy order, including periodical payments orders, has been issued by the President of the Family Division, the use of which is not obligatory but is strongly encouraged. For further guidance on the standard orders project generally, see Practice Note: Standard orders—general principles.See also Practice Notes: General principles of consent...

Financial proceedings—orders that can be made by the court

Financial proceedings—orders that can be made by the court This Practice Note explains the differences between financial orders and financial remedies as provided for in the Family Procedure Rules 2010 (FPR 2010). It sets out the financial orders that may be made by the court within proceedings for divorce, nullity and judicial separation, and the civil partnership equivalents, including in relation to financial provision, property and pensions. For practical guidance on the courts’ approach to an application for a financial order, see Practice Note: Factors considered by the court on financial provision. Prior to issuing a financial application regard should be had to the requirement for attendance at a mediation information and assessment meeting (MIAM) and the pre-application protocol annexed to FPR 2010, PD 9A, see Practice Notes: Non-court dispute resolution—mediation information and assessment meetings (MIAMs) and Financial proceedings—pre-application protocols—Pre-application protocol (FPR 2010, PD 9A, Annex). What are financial remedies and financial orders? FPR 2010 made changes to the terminology used in relation to proceedings for financial...

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Variation of financial orders—client guide (standard procedure)

Variation of financial orders—client guide (standard procedure) This document provides general guidance regarding an application to court to vary a financial order. Your family lawyer will be able to provide specific advice based on your circumstances. What orders can the court vary? The court can vary the following types of order: • maintenance pending suit or interim maintenance • periodical payments or secured periodical payments (also known as maintenance orders)—this includes reducing or increasing the amount payable and the length of time for which it should be paid; the court can also replace a maintenance order with a capital order (ie capitalisation, see below) • lump sums payable by instalments—it is highly unlikely that the court will vary the total amount payable but it may alter the timing and/or amount of the instalments ordered • orders for sale—the court can alter the mechanics and timing of the order but not the underlying division of the proceeds of sale [An application to vary a periodical payments order must be made while...

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In financial proceedings, will the court accept an order where maintenance is expressed to be paid in a foreign currency rather than GBP?

In financial proceedings, will the court accept an order where maintenance is expressed to be paid in a foreign currency rather than GBP? When parties divorce, the court has the power to make any of the orders contained in the Matrimonial Causes Act 1973 (MCA 1973), being property adjustment, lump sum, periodical payment (including secured periodical payments) and pension orders (MCA 1973, ss 23, 24, 24A and 24B). The court will make such an order on the application of a party in Form A, and the order will take effect on the pronouncement of decree absolute. The court can make an interim order for periodical payments (maintenance pending suit and interim maintenance). A periodical payment order can be expressed to be for a fixed period of time, for joint lives, or ending on certain trigger events. The re-marriage of the receiving party automatically terminates the liability to pay maintenance. There is nothing in MCA 1973 which provides that periodical payments must be made in pounds sterling. That...

The parties have agreed to sell their family business, which is jointly owned with no third party interests. Does the court have the power to make an order for the sale of the business or is an agreement for the sale of a business expressed as a recital or undertaking?

The parties have agreed to sell their family business, which is jointly owned with no third party interests. Does the court have the power to make an order for the sale of the business or is an agreement for the sale of a business expressed as a recital or undertaking? An order for sale under section 24A of the Matrimonial Causes Act 1973 (MCA 1973) may only be made if there has been a legal services payment order, a secured periodical payments order, a lump sum order or a property adjustment order. Orders for sale are most commonly made as an adjunct to a lump sum order or a property adjustment order. ‘Property’ for the purposes of MCA 1973, s 24 (property adjustment orders) and MCA 1973, s 24A includes real property, tenancies, interests in insurance policies and shares in limited companies (as opposed to property held by a company). ‘Property’ may include