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The Insolvency Practitioners Regulations (Northern Ireland) 2006

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Requirement for Bonding – Terms of the Bond

5.  In a case where an insolvency practitioner acts as a nominee or supervisor of a voluntary arrangement under Part II or Chapter II of Part VIII of the Order, the amount of the specific penalty shall be equal to at least the value of those assets subject to the terms of the arrangement (whether or not those assets are in his possession) including, where under the terms of the arrangement the debtor or a third party is to make payments, the aggregate of any payments to be made.

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