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5.—(1) The requirements with respect to education and practical training and experience which are prescribed for the purposes of section 393(2)(b) of the Act are set out in regulations 6, 7 and 8 below which shall apply to applicants for authorisation as specified in this regulation.
(2) Regulation 6 shall apply to all applicants other than an applicant who:–
(a)was born on or before 15 December 1951; or
(b)at the relevant time is the holder of an authorisation.
(3) Regulations 7 and 8 shall apply to all applicants other than an applicant who at the relevant time:–
(a)is the holder of an authorisation; and
(b)(i)has been appointed an office-holder in at least one case under the law of England and Wales or Scotland; or
(ii)has acquired not less than 500 hours of higher insolvency work experience; within the period of three years immediately prior to the relevant time and in determining whether an applicant falls within this sub-paragraph the provisions of regulation 8(2) below shall apply.
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