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Explanatory Memorandum to Insolvency (Northern Ireland) Order 2002

Article 6: Qualification or authorisation of nominees and supervisors

This Article amends Article 3 of the Insolvency (Northern Ireland) Order 1989, which deals with acting as an insolvency practitioner2 and inserts a new Article 348A dealing with arrangements for authorisation of nominees and supervisors.

Paragraph (1) extends the meaning of “to act as an insolvency practitioner” to include a person who acts as a nominee in relation to a company or individual voluntary arrangement.

Paragraph (2) inserts a new paragraph (1A) in Article 348 of the Insolvency (Northern Ireland) Order 1989. The amendment means that it will not be an offence to act as a nominee or supervisor whilst unauthorised to act as an insolvency practitioner provided that the individual is authorised to act as a nominee or a supervisor under paragraph (1) of Article 348(A).

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