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Insolvency (Amendment) Act (Northern Ireland) 2016

Power to establish single regulator of insolvency practitioners

Section 22: Regulations under section 21: designation of existing body

This section sets out that the Department may only make regulations designating an existing body as the single regulator if the body is able and willing and it has arrangements in place for its functions to be exercised effectively.  It sets out in what circumstances an existing body may become the single regulator and what the Department must do to make this designation.

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Text created by the Northern Ireland Assembly department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes accompany all Acts of the Northern Ireland Assembly.


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