The Insolvency Practitioners Regulations 2005
PART 1Introductory
1Citation and commencement.
2Interpretation: general
3Interpretation - meaning of initial and subsequent capacity
4Revocations and transitional and saving provisions
PART 2Authorisation of Insolvency Practitioners by Competent Authorities
5Interpretation of Part
6Matters for determining whether an applicant for an authorisation is a fit and proper person
7Requirements as to education and training – applicants who have never previously been authorised to act as insolvency practitioners
8Requirements relating to education and training etc. – applicants previously authorised to act as insolvency practitioners
8ARequirements relating to education and training etc. – further authorisation to act as insolvency practitioners
9Records of continuing professional development activities
10Maximum period of authorisation
11Returns by insolvency practitioners authorised by the Secretary of State
PART 3The Requirements for Security and Caution for the Proper Performance of the Functions of an Insolvency Practitioner etc.
12(1) Schedule 2 shall have effect in respect of the...
PART 4Records to be maintained by Insolvency Practitioners — Inspection of Records
13Records to be maintained by insolvency practitioners
14Notification of whereabouts of records
15Inspection of records
16Inspection of practice records
17Inspection of records in administration and administrative receiverships
SCHEDULE 1REGULATIONS REVOKED
The Insolvency Practitioners Regulations 1990 The Insolvency Practitioners (Amendment) Regulations...
SCHEDULE 2REQUIREMENTS FOR SECURITY OR CAUTION AND RELATED MATTERS
PART 1Interpretation
1Interpretation
PART 2Requirements relating to security and caution
2Requirements in respect of security or caution
2ARequirement for bond or professional liability insurance
3Terms of the bond
4Subject to paragraphs 5, 6 and 7, the amount of...
5In a case where an insolvency practitioner acts as a...
6Where the value of the insolvent's assets is less than...
7Where the value of the insolvent's assets is more than...
8In estimating the value of an insolvent's assets, unless he...
8ACompliance of professional liability insurance cover in another EEA state
8BProcedure for determining compliance of professional liability insurance or guarantee
8CProcedure for determining compliance of supplementary guarantee
8DTime for notification of determinations
8ENotification of determination out of time
PART 3Records relating to bonding and connected matters
9Record of specific penalty sums to be maintained by insolvency practitioner
10Retention of bond by recognised professional body or competent authority
11Inspection and retention requirements relating to cover schedule – England and Wales
12Inspection and retention requirements relating to the cover schedule– Scotland
13Requirements to submit cover schedule to authorising body
SCHEDULE 3RECORDS TO BE MAINTAINED - MINIMUM REQUIREMENTS
1Details of the insolvency practitioner acting in the case
2The identifying number or reference issued to the insolvency practitioner...
3The principal business address of the insolvency practitioner.
4Either— (a) the name of— (i) any body by virtue...
5Details of the insolvent
6The type of the insolvency proceedings.
7Progress of administration
8Bonding arrangements in the case
9Matters relating to remuneration
10Meetings (other than any final meeting of creditors)
11Disqualification of Directors
12Vacation of office etc.
13Distributions to creditors etc.
14Statutory Returns
15Time recording
2005 No. 524
INSOLVENCY
INSOLVENCY PRACTITIONERS

The Insolvency Practitioners Regulations 2005

Made
Laid before Parliament
Coming into force

The Secretary of State, in exercise of the powers conferred upon her by sections 390, 392, 393 and 419 of the Insolvency Act 1986 M1 hereby makes the following Regulations: