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The Insolvency Practitioners (Recognised Professional Bodies) (Revocation of Recognition) Order (Northern Ireland) 2025
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- Northern Ireland Statutory Rules
- 2025 No. 19
- Explanatory Note
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EXPLANATORY NOTE
(This note is not part of the Order)
The Insolvency Practitioners (Recognised Professional Bodies) Order (Northern Ireland) 1991 declares the bodies specified in the Schedule to that Order to be recognised professional bodies for the purposes of Article 350 of the Insolvency (Northern Ireland) Order 1989. The Institute of Chartered Accountants in Ireland (otherwise known as the Chartered Accountants Ireland) has asked to have their recognition as recognised professional body revoked.
Regulation 2 of this Order amends the Insolvency Practitioners (Recognised Professional Bodies) Order (Northern Ireland) 1991, by omitting the Institute of Chartered Accountants in Ireland from the Schedule to that Order with effect from 19th February 2025. From this date the Institute of Chartered Accountants in Ireland will cease to be a recognised professional body for the purposes of Article 350 of the Insolvency (Northern Ireland) Order 1989.
A notice specifying the date from which this Order takes effect and the Department’s reasons for making it, as required by Article 350N(3) of the Insolvency (Northern Ireland) Order 1989, was published on 11th February 2025. The notice is available online atInsolvency Service notice - revocation of recognition of the Institute of Chartered Accountants in Ireland as a Recognised Professional Body
A regulatory impact assessment has not been produced for this instrument as it does not impose any costs on business, charities, social enterprise or voluntary bodies.
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