(1)The Secretary of State may make regulations for the purpose of giving effect to this Part.
(2)Without prejudice to the generality of subsection (1) above or to any provision of this Part by virtue of which regulations may be made with respect to any matter, regulations under this section may contain—
(a)provision as to the matters to be taken into account in determining whether a person is a fit and proper person to act as an insolvency practitioner ;
(b)provision prohibiting a person from acting as an in solvency practitioner in prescribed cases, being cases in which a conflict of interest will or may arise;
(c)provision imposing requirements with respect to—
(i)the preparation and keeping by a person who acts as an insolvency practitioner of prescribed books, accounts and other records ; and
(ii)the production of those books, accounts and records to prescribed persons ;
(d)provision conferring power on prescribed persons—
(i)to require any person who acts or has acted as an insolvency practitioner to answer any inquiry in relation to a case in which he is so acting or has so acted ; and
(ii)to apply to a court to examine such a person or any other person on oath concerning such a case;
(e)provision making non-compliance with any of the regulations a criminal offence; and
(f)such incidental, supplemental and transitional provisions as may appear to the Secretary of State necessary or expedient.
(3)Any power conferred by this Part to make regulations, rules or orders shall be exercisable by statutory instrument which shall be subject to annulment in pursuance of a resolution of either House of Parliament.
(4)Any rule or regulation under this Part may make different provision with respect to different cases or descriptions of cases, including different provision for different areas.
In this Part—
" prescribed " means prescribed by regulations made by the Secretary of State ;
" the relevant authority " means—
in relation to a case of any description specified in directions given by the Secretary of State, the body or person so specified in relation to cases of that description; and
in relation to a case not falling within paragraph above, the Secretary of State ;
" the Tribunal" means the Insolvency Practitioners Tribunal.