Insolvency Act 1986

393 Grant, refusal and withdrawal of authorisation. E+W+S

(1) The competent authority may, on an application duly made in accordance with section 392 and after being furnished with all such information as it may require under that section, grant or refuse the application.

(2) The authority shall grant the application if it appears to it from the information furnished by the applicant and having regard to such other information, if any, as it may have—

(a) that the applicant is a fit and proper person to act as an insolvency practitioner, and

(b) that the applicant meets the prescribed requirements with respect to education and practical training and experience.

[F1 (3) An authorisation granted under this section, if not previously withdrawn, continues in force for one year.

(3A) But where an authorisation is granted under this section the competent authority must, before its expiry (and without a further application made in accordance with section 392) grant a further authorisation under this section taking effect immediately after the expiry of the previous authorisation, unless it appears to the authority that the subject of the authorisation no longer complies with subsection (2)(a) and (b).]

(4) An authorisation [F2 granted under this section] may be withdrawn by the competent authority if it appears to it—

(a) that the holder of the authorisation is no longer a fit and proper person to act as an insolvency practitioner, or

(b) without prejudice to paragraph (a), that the holder—

(i) has failed to comply with any provision of this Part or of any regulations made under this Part or Part XV, or

(ii) in purported compliance with any such provision, has furnished the competent authority with false, inaccurate or misleading information.

(5) An authorisation granted under this section may be withdrawn by the competent authority at the request or with the consent of the holder of the authorisation.

[F3 (6) Where an authorisation granted under this section is withdrawn—

(a) subsection (3A) does not require a further authorisation to be granted, or

(b) if a further authorisation has already been granted at the time of the withdrawal, the further authorisation is also withdrawn.]

Textual Amendments

F1 S. 393(3)(3A) substituted for s. 393(3) (28.12.2009) by The Provision of Services (Insolvency Practitioners) Regulations 2009 (S.I. 2009/3081), reg. 2(4)(a)

F2 Words in s. 393(4) substituted (28.12.2009) by The Provision of Services (Insolvency Practitioners) Regulations 2009 (S.I. 2009/3081), reg. 2(4)(b)

F3 S. 393(6) added (28.12.2009) by The Provision of Services (Insolvency Practitioners) Regulations 2009 (S.I. 2009/3081), reg. 2(4)(c)

Modifications etc. (not altering text)

C1 S. 393 applied with modifications by S.I. 1986/1999, art. 3, Sch. 1 Pt. II