Schedule 2: Transitional Provisions
This Schedule lists the transitional and saving provisions necessary to the Act. Paragraphs 11 to 16 make transitional and saving provisions for two categories of individual, those who are authorised by the Department to act as an insolvency practitioner at the date the repeals made by subsection (5) of section 14 take effect and those who have applied to the Department for authorisation by that date but whose application has not been dealt with. Those who are already authorised will continue to be authorised during the transitional period. Those who apply to the Department for authorisation before the repeals made by subsection (5) of section 14 take effect will have their applications determined in accordance with the existing provisions.