The Insolvency Practitioners Regulations 2005 No. 524

PART 4 E+W+S Records to be maintained by Insolvency Practitioners — Inspection of Records

Records to be maintained by insolvency practitioners E+W+S

13.— [F1 (1) In respect of each case in which an insolvency practitioner acts, the insolvency practitioner shall maintain records containing information sufficient to show and explain—

(a) the administration of that case by the insolvency practitioner and the insolvency practitioner’s staff; and

(b) any decisions made by the insolvency practitioner which materially affect that case.]

(2) Where at any time the records referred to in paragraph (1) do not contain all the information referred to in [F2 paragraph (1)], the insolvency practitioner shall forthwith make such changes to the records as are necessary to ensure that the records contains all such information.

F3 (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F3 (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(5) Any records created in relation to a case pursuant to this regulation shall be preserved by the insolvency practitioner until whichever is the later of—

(a) the sixth anniversary of the date of the grant to the insolvency practitioner of his release or discharge in that case; or

(b) the sixth anniversary of the date on which any security or caution maintained in that case expires or otherwise ceases to have effect.

Textual Amendments

F1 Reg. 13(1) substituted (1.10.2015) by The Insolvency Practitioners (Amendment) Regulations 2015 (S.I. 2015/391), regs. 1, 3(1)

F2 Words in reg. 13(2) substituted (1.10.2015) by The Insolvency Practitioners (Amendment) Regulations 2015 (S.I. 2015/391), regs. 1, 3(2)

F3 Reg. 13(3)(4) revoked (1.10.2015) by The Insolvency Practitioners (Amendment) Regulations 2015 (S.I. 2015/391), regs. 1, 3(3)

Notification of whereabouts of records E+W+S

F4 14.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F4 Reg. 14 omitted (1.10.2015) by virtue of The Deregulation Act 2015 (Insolvency) (Consequential Amendments and Transitional and Savings Provisions) Order 2015 (S.I. 2015/1641), art. 3, Sch. 1 para. 5(7) (with arts. 8, 9)

Inspection of records E+W+S

15.—(1) Any records maintained by an insolvency practitioner pursuant to this Part shall on the giving of reasonable notice be made available by him for inspection by—

(a) any professional body recognised under section 391 of the Act of which he is a member and the rules of membership of which entitle him to act as an insolvency practitioner;

F5 (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(c) the Secretary of State.

(2) Any person who is entitled to inspect any record pursuant to paragraph (1) shall also be entitled to take a copy of those records.

Textual Amendments

F5 Reg. 15(1)(b) omitted (1.10.2015) by virtue of The Deregulation Act 2015 (Insolvency) (Consequential Amendments and Transitional and Savings Provisions) Order 2015 (S.I. 2015/1641), art. 3, Sch. 1 para. 5(8) (with arts. 8, 9)

Inspection of practice records E+W+S

F6 16.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F6 Reg. 16 omitted (1.10.2015) by virtue of The Deregulation Act 2015 (Insolvency) (Consequential Amendments and Transitional and Savings Provisions) Order 2015 (S.I. 2015/1641), art. 3, Sch. 1 para. 5(9) (with arts. 8, 9)

Inspection of records in administration and administrative receiverships E+W+S

17.  On the giving of reasonable notice to the insolvency practitioner, the Secretary of State shall be entitled to inspect and take copies of any records in the possession or control of that insolvency practitioner which—

(a) were required to be created by or under any provision of the Act (or any provision made under the Act); and

(b) relate to an administration or an administrative receivership.