Personal Insolvency Act 2012
Authorisation to carry on practice as personal insolvency practitioner or refusal to authorise. |
164.— (1) Subject to subsections (3) and (5), the Insolvency Service may authorise an individual to carry on practice as a personal insolvency practitioner and shall furnish to that individual the registration number assigned to such person for the purposes of the Register. | |
(2) When deciding whether to authorise an individual to carry on practice as a personal insolvency practitioner, the Insolvency Service shall take into account any information supplied to it under sections 163 and 168 . | ||
(3) Subject to section 165 , the Insolvency Service shall refuse to authorise an individual to carry on practice as a personal insolvency practitioner if— | ||
(a) section 163 has not been complied with as respects the individual, | ||
(b) the individual has not furnished sufficient evidence to show that there is available to him or her the required level of professional indemnity insurance, | ||
(c) the individual— | ||
(i) is under 18 years of age, or | ||
(ii) is an undischarged bankrupt, | ||
(d) the Insolvency Service is satisfied that the individual— | ||
(i) is not a fit and proper person to carry on practice as a personal insolvency practitioner, | ||
(ii) is not competent to carry on practice as a personal insolvency practitioner or does not meet the levels of education, training and experience specified by the Insolvency Service, or | ||
(iii) does not comply with any requirement (not being a requirement referred to in any of paragraphs (a) to (c) of this subsection) of this Act or of regulations made under this Act applicable to the person. | ||
(4) An authorisation to carry on practice as a personal insolvency practitioner, unless sooner surrendered or revoked or otherwise ceasing to be in force, shall remain in force for a period of one year from the date on which it is issued. | ||
(5) An authorisation to carry on practice as a personal insolvency practitioner is personal to the personal insolvency practitioner concerned. | ||
(6) An authorisation to carry on practice as a personal insolvency practitioner shall not authorise the person concerned to carry on any other form of financial advisory services subject to regulation by the Central Bank of Ireland. |