The Insolvency Practitioners Regulations 2005 No. 524

SCHEDULE 2 E+W+S REQUIREMENTS FOR SECURITY OR CAUTION AND RELATED MATTERS

PART 2 E+W+S Requirements relating to security and caution

[F1 Requirement for bond or professional liability insurance E+W+S

2A.   Where an insolvency practitioner is appointed to act in respect of an insolvent there must be in force—

(a) a bond in a form approved by the Secretary of State which complies with paragraph 3; or

(b) where the insolvency practitioner is already established in another EEA state and is already covered in that state by professional liability insurance or a guarantee, professional liability insurance or a guarantee which complies with paragraph 8A.]

Textual Amendments

F1 Sch. 2 para. 2A added (28.12.2009) by The Provision of Services (Insolvency Practitioners) Regulations 2009 (S.I. 2009/3081), reg. 1, Sch. para. 8(3) (with reg. 5)