UK Laws - Legal Portal
 
Navigation
News

Statutory Instrument 1990 No. 439

The Insolvency Practitioners Regulations 1990

(The document as of February, 2008)

-- Back --

STATUTORY INSTRUMENTS

1990 No. 439

INSOLVENCY
INSOLVENCY PRACTITIONERS

The Insolvency Practitioners Regulations 1990

Made5th March 1990
Laid before Parliament7th March 1990
Coming into force1st April 1990

    The Secretary of State, in the exercise of the powers conferred on him by sections 390, 392, 393 and 419 of the Insolvency Act 1986[1], hereby makes the following Regulations:-


PART 1

INTRODUCTORY
    Citation, commencement and interpretation
        1.—(1)  These Regulations may be cited as the Insolvency Practitioners Regulations 1990.

        (2)  These Regulations shall come into force on 1st April 1990.

        (3)  In these Regulations except where the context otherwise requires:-
      "Accountant in Bankruptcy" shall be construed in accordance with section 1 of the Bankruptcy (Scotland) Act 1985[2];

      "the Act" means the Insolvency Act 1986;

      "application" means an application made by an individual to the competent authority for authorisation under section 393 of the Act to act as an insolvency practitioner;

      "associate" shall be construed in accordance with section 435 of the Act;

      "authorisation" means an authorisation to act as an insolvency practitioner granted under section 393 of the Act;

      "the Bankruptcy Act" means the Bankruptcy (Scotland) Act 1985;

      "business" includes the carrying on of any trade, profession or vocation and the discharge of the functions relating to any office or employment;

      "commencement date" means the date on which these Regulations come into force;

      "Crown employment" shall be construed in accordance with section 121(2) of the Employment Protection Act 1975[3];

      "the insolvency legislation" means the following enactments:-

      the Act;

      the Insolvency Act 1985[4];

      Parts XVIII to XXI of the Companies Act 1985[5];

      Part VII of the Employment Protection (Consolidation) Act 1978[6];

      the Bankruptcy Act 1914[7];

      the Deeds of Arrangement Act 1914[8];

      the Bankruptcy Act;

      the Bankruptcy (Scotland) Act 1913[9]; and

      the provisions of the enactments repealed by Schedule 1 to the Companies Consolidation (Consequential Provisions) Act 1985[10] relating to insolvency; and

      "insolvency practice" means the carrying on of the business of acting as an insolvency practitioner or in a corresponding capacity under the law of any country or territory outside Great Britain, and for this purpose acting as an insolvency practitioner shall include acting as a trustee in sequestration or a judicial factor on the bankrupt estate of a deceased person;

      "insolvency practitioner" shall be construed in accordance with section 388 of the Act;

      "insolvency proceedings" means any of the proceedings under the Act and the Bankruptcy Act in which a person may be appointed to act as an insolvency practitioner;

      "insolvency work experience" means engagement in work related to the administra tion of the estates of persons in respect of which an office-holder has been appointed; and "higher insolvency work experience" means engagement in work related to the administration of the estates of persons in respect of which an office-holder has been appointed where the work involves the management or supervision of the conduct of a case on behalf of that office-holder;

      "interim trustee" has the same meaning as in the Bankruptcy Act;

      "office-holder" means a person who acts or has acted as an insolvency practitioner, a trustee in sequestration, or a judicial factor on the bankrupt estate of a deceased person or in a corresponding capacity under the law of any country or territory outside Great Britain;

      "permanent trustee" and "trust deed for creditors" have the same meanings as in the Bankruptcy Act;

      "relevant time" in relation to an individual making an application or his application means the time of making the application.

    Revocation
        2.—(1)  The Insolvency Practitioners Regulations 1986[11] ("the principal Regulations"), the Insolvency Practitioners (Amendment) Regulations 1986[12], the Insolvency Practitioners (Amendment) Regulations 1989[13] and the Insolvency Practitioners (Amendment) (No. 2) Regulations 1989[14] are hereby revoked.

        (2)  Notwithstanding paragraph (1), the said Regulations shall continue to apply and have effect in relation to:-
       (a) any application made before the commencement date in respect of which:-
         (i) no authorisation has been granted; or
         (ii) no written notice under section 397(2) of the Act has been given by the competent authority; or
         (iii) no written notice under section 398 of the Act has been given by the authority,
      before the commencement date; or
       (b) any withdrawal of an authorisation pursuant to a notice under section 394(2) of the Act given before the commencement date.

        (3)  Notwithstanding paragraph (1), the principal Regulations, other than Part II thereof, and the Insolvency Practitioners (Amendment) Regulations 1986 shall continue to apply and have effect in relation to any person appointed to act as an insolvency practitioner in relation to any person before the commencement date in so far as he continues so to act in relation to that person on or after the commencement date pursuant to that appointment or to a subsequent appointment to act as an insolvency practitioner within the scope of regulation 11 of the principal Regulations made on or after the commencement date.


Notes:

[1] 1986 c. 45.

[2] 1985 c. 66.

[3] 1975 c. 71.

[4] 1985 c. 65.

[5] 1985 c. 6.

[6] 1978 c. 44.

[7] 1914 c. 59 (4 and 5 Geo. 5).

[8] 1914 c. 47 (4 and 5 Geo. 5).

[9] 1913 c. 20 (3 and 4 Geo. 5).

[10] 1985 c. 9.

[11] S.I. 1986/1995, amended by S.I. 1986/2247, 1989/1587 and 2170.

[12] S.I. 1986/2247.

[13] S.I. 1989/1587.

[14] S.I. 1989/2170.

-- Back --

Stat




Other