The Insolvency Practitioners (Recognised Professional Bodies) (Revocation of Recognition) Order 2021

Statutory Instruments

2021 No. 110

Insolvency

The Insolvency Practitioners (Recognised Professional Bodies) (Revocation of Recognition) Order 2021

Made

29th January 2021

Laid before Parliament

4th February 2021

Coming into force

1st March 2021

The Secretary of State, in exercise of the powers conferred by sections 391N and 419(3) of the Insolvency Act 1986(1), makes the following Order.

In accordance with section 391N(1) of the Insolvency Act 1986, the Association of Chartered Certified Accountants has requested that an order be made to revoke the Insolvency Practitioners (Recognised Professional Bodies) Order 1986(2) insofar as it declares that the Chartered Association of Certified Accountants is a recognised professional body. That body changed its name to the Association of Chartered Certified Accountants on 15th October 1996(3). The Secretary of State is satisfied that it is appropriate in all the circumstances of the case to make that revocation.

(1)

1986 c.45. Section 391N was inserted by section 140(1) of the Small Business, Enterprise and Employment Act 2015 (c. 26) (“2015 Act”).

(2)

S.I. 1986/1764 (“1986 Order”) to which there are amendments not relevant to this Order. The 1986 Order was made under sections 3(2) and 10 of the Insolvency Act 1985 (c. 65). Following the repeal of that section by the Insolvency Act 1986 (c. 45) (“1986 Act”) the 1986 Order was treated as made under section 391(1) of the 1986 Act (see paragraph 23 of Schedule 11 to the 1986 Act). A new section 391 of the 1986 Act was substituted by section 137(1) of the 2015 Act. Under section 137(2) of the 2015 Act the 1986 Order is to be treated as if it were made under section 391(1) of the 1986 Act, as substituted.

(3)

The Association of Chartered Certified Accountants is a Royal Charter company. The amendment of the Charter of the body, to substitute this name, was allowed by an Order in Council dated 15th October 1996.