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

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. Such bodies are recognised professional bodies for the purposes of section 391 of the Insolvency Act 1986.

The Association of Chartered Certified Accountants (formerly the Chartered Association of Certified Accountants) has requested that its recognition as a recognised professional body be revoked. This Order amends the Insolvency Practitioners (Recognised Professional Bodies) Order 1986, by omitting the Chartered Association of Certified Accountants from the Schedule to it, with effect from 1st March 2021. From this date the Association of Chartered Certified Accountants will cease to be a recognised professional body.

A notice by the Secretary of State, specifying the date from which this Order takes effect and the reasons for it, has been published on 27th January 2021 as required by section 391N(3) of the Insolvency Act 1986 and is available on-line at https://www.gov.uk/government/news/association-of-chartered-certified-accountants-application-to-cease-as-a-recognised-professional-body-for-insolvency-practitioners. A hard copy of the notice is available from The Insolvency Service, Floor 16, 1 Westfield Avenue, London E20 1HZ.

An impact assessment has not been produced for this instrument as it has no impact on the private, voluntary or public sector.

An Explanatory Memorandum has been prepared and is available alongside this Order at www.legislation.gov.uk. A hard copy of the Explanatory Memorandum is available from the Insolvency Service, Floor 16, 1 Westfield Avenue, London E20 1HZ.