The Friendly Societies Act 1992 (Modification of Part 2) (Northern Ireland) Order 2017

Modification of Part 2 of the Friendly Societies Act 1992

2.  In Schedule 10 to the Friendly Societies Act 1992 (application of companies winding up legislation to incorporated friendly societies), in Part 3 (modified application of Insolvency (Northern Ireland) Order 1989) after paragraph 66 insert—

“Insolvency practitioners: their qualification and regulation

66A.   Article 349 of the Order (persons not qualified to act as insolvency practitioners) has effect as if for paragraph (2)(1) there were substituted—

“(2) A person is not qualified to act as an insolvency practitioner in relation to an incorporated friendly society at any time unless at that time the person is fully authorised to act as an insolvency practitioner or partially authorised to act as an insolvency practitioner only in relation to companies.”.

66B.— (1) In the following provisions of the Order, in a reference to authorisation or permission to act as an insolvency practitioner in relation to (or only in relation to) companies the reference to companies has effect without the modification in paragraph 3(1)(a) above—

(a) Articles 349A and 349B(1) and (3)(2) (authorisation of insolvency practitioners); and

(b) Articles 350O(1)(b) and 350R(3)(b) (court sanction of insolvency practitioners in public interest cases).

(2) In Articles 350Q(2)(b) (direct sanctions order: conditions) and 350S(3)(e) (power for Department to obtain information) of the Order the reference to a company has effect without the modification in paragraph 3(1)(a) above.”.

(1)

Paragraph (2) is substituted by the Insolvency (Amendment) Act (Northern Ireland) 2016, section 14(1) and (2).

(2)

Articles 349A and 349B were inserted by the Insolvency (Amendment) Act (Northern Ireland) 2016, section 14(1) and (3). Articles 350O, 350Q and 350R were inserted by section 18 of that Act, and Article 350S was inserted by section 19 of that Act.