Insolvency Practitioners Regulation Act 2019

Issue of licence

9 Issue of licence

(1)

A natural person may apply to an accredited body to be issued with a licence in the manner that is specified by the Registrar.

(2)

The accredited body must issue a licence to the person if—

(a)

the accredited body is satisfied that the person—

(i)

meets the prescribed minimum standards; and

(ii)

is otherwise a fit and proper person to hold a licence; and

(b)

the application is accompanied by payment of the prescribed registration fee; and

(c)

either—

(i)

the person is a member of the accredited body; or

(ii)

section 57 applies in respect of the person.

(3)

The accredited body must,—

(a)

if the licence is issued, send the prescribed registration fee to the Registrar; or

(b)

if the licence is not issued, refund the prescribed registration fee to the applicant.

(4)

The accredited body may require the applicant to pay the accredited body’s reasonable costs in processing the application and, if it does,—

(a)

the issue of the licence is not subject to payment of the accredited body’s costs; and

(b)

if the licence is not issued, the accredited body’s costs are not refundable merely because the licence is not issued.

Compare: 2011 No 21 s 11