http://www.legislation.gov.uk/nisr/2022/241The Insolvency Practitioners (Amendment) Regulations (Northern Ireland) 2022enINSOLVENCY;INSOLVENCY PRACTITIONERSStatute Law Database2024-05-20Expert Participation2022-11-04 These Regulations amend the Insolvency Practitioners Regulations (Northern Ireland) 2006 (“the principal Regulations”). 2022 No. 241InsolvencyInsolvency PractitionersThe Insolvency Practitioners (Amendment) Regulations (Northern Ireland) 2022Made4th October 2022Coming into operation4th November 2022The Department for the Economy makes the following Regulations in exercise of the powers conferred by Articles 349(3) and 363 of the Insolvency (Northern Ireland) Order 1989. Citation and interpretation1These Regulations may be cited as the Insolvency Practitioners (Amendment) Regulations (Northern Ireland) 2022 and come into operation on 4th November 2022.Amendments to the Insolvency Practitioners Regulations (Northern Ireland) 20062The Insolvency Practitioners Regulations (Northern Ireland) 2006 are amended as set out in regulations 3 to 12.3In regulation 2 (Interpretation: general), in paragraph (1), for the meaning of “insolvency practitioner” substitute, “Insolvency Practitioner” means a person who is authorised to act as an insolvency practitioner under Article 349A4In regulation 4 (Revocations and transitional and saving provisions)–aomit paragraph (2); andbin paragraph (4) for the words “regulations 16 and 17” substitute “regulation 17”.5Omit Part 2 (Authorisation of Insolvency Practitioners by Competent Authorities and Related Matters).6In regulation 12 (The Requirements for Security for the Proper Performance of the Functions of an Insolvency Practitioner etc.) omit paragraph (3).7In regulation 13 (Records to be maintained by insolvency practitioners)-aFor paragraph (1) substitute—1In respect of each case in which an insolvency practitioner acts, the insolvency practitioner shall maintain records containing information sufficient to show and explain—athe administration of that case by the insolvency practitioner and the insolvency practitioner’s staff; andbany decisions made by the insolvency practitioner which materially affect that case.bIn paragraph (2) substitute “paragraph (1)” for “Schedule (3) as is applicable to the case.”cOmit paragraph (3).8Omit regulation 14 (Notification of whereabouts of records).9In regulation 15 (Inspection of records) omit paragraph (1)(b).10Omit regulation 16 (Inspection of practice records).11In Schedule 2 (Requirements for Security and Related Matters)-aIn paragraph 9(2) omit sub-paragraph (b).bIn paragraph 10(1) omit sub-paragraph (b).cIn paragraph 12(2) omit sub-paragraph (b).12Omit Schedule 3 (Records to be Maintained-Minimum Requirements).Sealed with the Official Seal of the Department for the Economy on 4th October 2022Colin JackA senior officer of the Department for the Economy EXPLANATORY NOTE(This note is not part of the Order)

These Regulations amend the Insolvency Practitioners Regulations (Northern Ireland) 2006 (“the principal Regulations”).

Regulation 3 revises the definition of insolvency practitioners in regulation 2 of the principal regulations as a consequence of the ending of authorisation of insolvency practitioners by competent authorities following repeal of Article 352 of the 1989 Order by the Insolvency (Amendment) Act (Northern Ireland) 2016.

Regulations 4, 5, 8, 9, 10, 11(a), 11(b) and 11(c) revoke provisions which have been rendered otiose as a result of the ending of authorisation of insolvency practitioners by competent authorities in Northern Ireland.

Regulation 6 provides for revocation of paragraph (3) in regulation 12 of the principal regulations which has been rendered otiose by the ending of authorisation of insolvency practitioners by competent authorities in Great Britain.

Regulation 7 substitutes regulation 13(1) of the principal regulations to require insolvency practitioners to maintain records sufficient to show and explain both the administration of each case and decisions materially affect that case. This replaces the requirement to maintain records containing prescribed information formerly set out in Schedule 3 to the principal regulations. Schedule 3 to the principal regulations is revoked by Regulation 12.

An Explanatory Memorandum has been published alongside this instrument at www.legislation.gov.uk

 Formerly the Department of Enterprise, Trade and Investment; see section 1(3) of the Departments Act (Northern Ireland) 2016 (c. 5). S.I. 1989/2405 (N.I. 19). Article 363 was amended by section 23 of the Insolvency (Amendment) Act (Northern Ireland) 2016 (c.2 (N.I.)). S.R. 2006 No. 33, as amended by S.R. 2009 No. 401, S.I. 2013/472, S.I. 2018/1329, 2020 c.12 (N.I.) and S.R. 2021 No. 140. 2016 c. 2 (NI), Article 349A was inserted by section 14 of the Insolvency (Amendment) Act (Northern Ireland) 2016. Reg. 1 in operation at 4.11.2022, see reg. 1Reg. 3 in operation at 4.11.2022, see reg. 1Reg. 4 in operation at 4.11.2022, see reg. 1Reg. 5 in operation at 4.11.2022, see reg. 1Reg. 6 in operation at 4.11.2022, see reg. 1Reg. 7 in operation at 4.11.2022, see reg. 1Reg. 8 in operation at 4.11.2022, see reg. 1Reg. 9 in operation at 4.11.2022, see reg. 1Reg. 10 in operation at 4.11.2022, see reg. 1Reg. 11 in operation at 4.11.2022, see reg. 1Reg. 12 in operation at 4.11.2022, see reg. 1Reg. 2 in operation at 4.11.2022, see reg. 1