2016 No. 403
Insolvency
Insolvency Practitioners

The Insolvency Practitioners (Recognised Professional Bodies) (Revocation of Recognition) Order 2016

Made
Laid before Parliament
Coming into force
In accordance with section 391N(1) of the Insolvency Act 19861 the Law Society has requested that an order be made to revoke the Insolvency Practitioners (Recognised Professional Bodies) Order 19862 insofar as it declares that the Law Society is a recognised professional body under section 391 of the Insolvency Act 19863. The Secretary of State is satisfied that it is appropriate in all the circumstances of the case to make that revocation.

The Secretary of State makes the following Order in exercise of the powers conferred by section 391N(1) of the Insolvency Act 1986.

In accordance with section 391N(3) of the Insolvency Act 1986 the Secretary of State published a notice specifying that the order is to take effect from 15th April 2016 and the reasons for making the Order.

Citation, commencement and effect1.

(1)

This Order may be cited as the Insolvency Practitioners (Recognised Professional Bodies) (Revocation of Recognition) Order 2016 and comes into force on 15th April 2016.

(2)

This Order has effect from 15th April 2016.

Revocation of recognition2.

In the Schedule to the Insolvency Practitioners (Recognised Professional Bodies) Order 1986 omit—

“The Law Society”.

Anna Soubry
Minister for Small Business, Industry and Enterprise
Department for Business, Innovation and Skills
EXPLANATORY NOTE
(This note is not part of the Order)

The Insolvency Practitioners (Recognised Professional Bodies) Order 1986 declares the bodies specified in the Schedule to the Order to be recognised professional bodies under section 391 of the Insolvency Act 1986. The Law Society, through the Solicitor’s Regulatory Authority (an independent operating division of the Law Society), has requested that Law Society is removed from this Schedule in accordance with the procedure in section 391N of the Insolvency Act 1986. This Order amends the Schedule to the Insolvency Practitioners (Recognised Professional Bodies) Order 1986 in accordance with this request. As a result the Law Society will cease to be a recognised professional body under section 391 of the Insolvency Act 1986 from 15th April 2016. A notice stating the date from which this Order takes effect and the Secretary of State’s reasons for making the Order is published on www.gov.uk in accordance with section 391N(3) of the Insolvency Act 1986. A print version of the notice is available from The Insolvency Service, 4 Abbey Orchard Street, London, SW1P 2HT. The notice is available online at:

https://www.gov.uk/government/news/law-society-application-to-cease-as-a-recognised-professional-body-for-insolvency-practitioners

A full regulatory impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen. An explanatory memorandum is published alongside this instrument at www.legislation.gov.uk.