Part XXIV Insolvency

Bankruptcy

373 Insolvency practitioner’s duty to report to Authority.

1

If—

a

a bankruptcy order or sequestration award is in force in relation to an individual by virtue of a petition presented by a person other than the Authority, and

b

it appears to the insolvency practitioner that the individual is carrying on, or has carried on, a regulated activity in contravention of the general prohibition,

the insolvency practitioner must report the matter to the Authority without delay.

2

“Bankruptcy order” means a bankruptcy order under Part IX of the 1986 Act (or Part IX of the 1989 Order).

3

“Sequestration award” means an award of sequestration under section 12 of the 1985 Act.

4

“Individual” includes an entity mentioned in section 374(1)(c).