Insolvency Practitioners Regulation (Amendments) Bill

  • enacted

Amendments to Part 21 (Offences and penalties)

8 Penalty for failure to comply with Act

(1)

Section 373(2) is amended by inserting the following paragraphs after paragraph (l):

(la)

section 239F(4) (which relates to being appointed as an administrator when disqualified):

(laa)

section 239G(2) (which relates to the duty of administrators to certify certain matters before appointment):

(lb)

section 239R(3) (which relates to the duty of replacement administrators to table an interests statement):

(lc)

section 239TA(3) (which relates to the duty of administrators to provide information and assistance to their successor):

(ld)

section 239AMB(5) (which relates to the duty of administrators to give notice to creditors in certain circumstances):

(le)

section 239AP(2) (which relates to the duty of administrators to table certain documents):

(lf)

section 239ABYA(2) (which relates to the duty of administrators to provide information and assistance to liquidators):

(lg)

section 239ACD(4) (which relates to being appointed as a deed administrator when disqualified):

(lh)

section 239ACE(2) (which relates to the duty of deed administrators to certify certain matters and table certain documents before appointment):

(li)

section 239ACJA(3) (which relates to the duty of deed administrators to provide information and assistance to their successor):

(lj)

section 239ACZ(4) (which relates to the duty of administrators to file accounts):

(lja)

section 239ACZAA(3) (which relates to the duty of administrators to file updates to interests statements):

(lk)

section 239ACZA(4) (which relates to the duty of administrators and deed administrators to file summary reports):

(ll)

section 243A(3) (which relates to declarations made by directors about a company’s ability to pay its debts):

(lm)

section 245C(5) (which relates to the duty of liquidators to give notice to creditors in certain circumstances):

(2)

Section 373(2) is amended by repealing paragraph (ma) and substituting the following paragraphs:

(ma)

section 255(3C) (which relates to the duty of liquidators to send an interests statement and initial and 6-monthly reports):

(mb)

section 256(4) (which relates to the duty of liquidators to keep records and documents):

(mc)

section 257(3) (which relates to the duty of liquidators to submit final reports and summary reports):

(3)

Section 373(2) is amended by repealing paragraph (n) and substituting the following paragraphs:

(n)

section 280(4) (which relates to being appointed as a liquidator when disqualified):

(naa)

section 282(2) (which relates to the duty of liquidators to certify certain matters before appointment):

(nab)

section 283(9) (which relates to the duty of liquidators to notify the Registrar of certain matters):

(na)

section 283A(3) (which relates to the duty of liquidators to provide information and assistance to their successor):

(4)

Section 373(3) is amended by inserting the following paragraph before paragraph (a):

(aa)

section 256A(4) (which relates to the duty of liquidators to hold the money of a company on trust):