Insolvency Practitioners Regulation Act 2019

4 Overview

(1)

In this Act,—

(a)

this Part contains preliminary provisions, including purpose and interpretation provisions:

(b)

Part 2 relates to the licensing of insolvency practitioners as follows:

(i)

subpart 1 requires a person who acts as an insolvency practitioner to hold a licence, and contains provisions relating to licences:

(ii)

subpart 2 relates to the Registrar prescribing licensing and other matters:

(iii)

subpart 3 relates to the register of licensed insolvency practitioners:

(iv)

subpart 4 relates to accredited bodies:

(v)

subpart 5 relates to investigations by the Registrar:

(vi)

subpart 6 relates to overseas practitioners, members of recognised bodies, and members of religious societies and orders:

(c)

Part 3 imposes duties and restrictions on licensed insolvency practitioners:

(d)

Part 4 contains the following provisions:

(i)

subpart 1 relates to solvent company liquidators, and requires a person who acts as a solvent company liquidator to be a licensed insolvency practitioner, a lawyer, a chartered accountant, or a member of a recognised professional body:

(ii)

subpart 2 contains miscellaneous provisions, including a power for the Registrar to act as an accredited body and an offence provision related to false declarations and representations:

(iii)

subpart 3 contains regulation-making powers.

(2)

This section is intended only as a guide to the general scheme and effect of this Act.