The Provision of Services (Insolvency Practitioners) Regulations 2009

Citation and commencement

1.  These Regulations may be cited as the Provision of Services (Insolvency Practitioners) Regulations 2009 and come into force on 28th December 2009.

Amendments to the Insolvency Act 1986

2.—(1) The Insolvency Act 1986 is amended as follows.

(2) In section 389A (authorisation of nominees and supervisors), in subsection (2), in paragraph (a) after “Secretary of State” insert “or of a body recognised for the purpose of Article 348A(2)(a) of the Insolvency (Northern Ireland) Order 1989(1) by the Department of Enterprise, Trade and Investment for Northern Ireland”.

(3) In section 390 (persons not qualified to act as insolvency practitioners), in subsection (2), after paragraph (b) insert—

“; or

(c) he holds an authorisation granted by the Department of Enterprise, Trade and Investment for Northern Ireland under Article 352 of the Insolvency (Northern Ireland) Order 1989.”.

(4) In section 393 (grant, refusal and withdrawal of authorisation)—

(a) for subsection (3) substitute—

“(3) An authorisation granted under this section, if not previously withdrawn, continues in force for one year.

(3A) But where an authorisation is granted under this section the competent authority must, before its expiry (and without a further application made in accordance with section 392) grant a further authorisation under this section taking effect immediately after the expiry of the previous authorisation, unless it appears to the authority that the subject of the authorisation no longer complies with subsection (2)(a) and (b).”;

(b) in subsection (4) for “so granted” substitute “granted under this section”; and

(c) after subsection (5) add—

“(6) Where an authorisation granted under this section is withdrawn—

(a) subsection (3A) does not require a further authorisation to be granted, or

(b) if a further authorisation has already been granted at the time of the withdrawal, the further authorisation is also withdrawn.”.

Amendment to article 3 of the Insolvency Practitioners and Insolvency Services Account (Fees) Order 2003

3.—(1) Article 3 of the Insolvency Practitioners and Insolvency Services Account (Fees) Order 2003(2) (fees payable in connection with authorisation by the Secretary of State under section393) is amended as follows.

(2) In paragraph (3) for “£3,250.” substitute—

“£850, in connection with the grant of the application.

(3A) Where the application is granted, the individual to whom authorisation has been granted must pay to the Secretary of State as soon as reasonably practicable a fee of £2,400 in connection with the maintenance of the authorisation for the period of 12 months commencing with the date of the grant of the authorisation.”.

Amendments to the Insolvency Practitioners Regulations 2005

4.  The Insolvency Practitioners Regulations 2005(3) are amended as set out in the Schedule to these Regulations.

Transitional provision

5.  These Regulations do not apply to an application for authorisation to act as an insolvency practitioner under section 393 of the Insolvency Act 1986 made or granted before these Regulations come into force.

Ian Lucas

Minister for Business and Regulatory Reform

Department for Business, Innovation & Skills

23rd November 2009