Insolvency Act 1986, Section 389 is up to date with all changes known to be in force on or before 03 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(1)A person who acts as an insolvency practitioner in relation to a company or an individual at a time when he is not qualified to do so is liable to imprisonment or a fine, or to both.
F1(1A). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2)This section does not apply to the official receiver [F2or the Accountant in Bankruptcy (within the meaning of the Bankruptcy (Scotland) Act [F32016]).].
Textual Amendments
F1S. 389(1A) omitted (1.10.2015) by virtue of Deregulation Act 2015 (c. 20), s. 115(7), Sch. 6 para. 18; S.I. 2015/1732, art. 2(e)(vi)
F2Words in s. 389(2) inserted (1.4.1993) by 1993 c. 6, s. 11(2) (with s. 12(6)); S.I. 1993/438, art. 3 (with arts. 4, 5)
F3Word in s. 389(2) substituted (30.11.2016) by The Bankruptcy (Scotland) Act 2016 (Consequential Provisions and Modifications) Order 2016 (S.I. 2016/1034), art. 1, Sch. 1 para. 4(7)
Modifications etc. (not altering text)
C1Pt. 13 applied (with modifications) (7.4.2017) by Building Societies Act 1986 (1986 c. 53), Sch. 15A (as amended by S.I. 2017/400, regs. 1(2), 2(4))
C2Pt. 13 applied (with modifications) (7.4.2017) by Friendly Societies Act 1992 (1992 c. 40), Sch. 10 (as amended by S.I. 2017/400, regs. 1(2), 3)
C3Pt. 13 applied (with modifications) (7.4.2017) by Building Societies Act 1986 (1986 c. 53), Sch. 15 (as amended by S.I. 2017/400, regs. 1(2), 2(3))
C4S. 389 applied with modifications by S.I. 1986/1999, art. 3, Sch. 1 Pt. II
C5S. 389 applied (with modifications) (17.2.2009 for certain purposes, otherwise 21.2.2009) by Banking Act 2009 (c. 1), ss. 103, 263(1)(2) (with s. 247); S.I. 2009/296, arts. 2, 3, Sch. para. 2
C6S. 389 applied (with modifications) (17.2.2009 for certain purposes, otherwise 21.2.2009) by Banking Act 2009 (c. 1), ss. 145, 263(1)(2) (with s. 247); S.I. 2009/296, arts. 2, 3, Sch. para. 3
C7S. 389 applied (with modifications) (6.6.2013) by The Collective Investment in Transferable Securities (Contractual Scheme) Regulations 2013 (S.I. 2013/1388), Pt. 3 reg. 1, Sch. 2 paras. 3, 5 Table (with reg. 24)
C8S. 389 applied (with modifications) (8.7.2021) by The Payment and Electronic Money Institution Insolvency Regulations 2021 (S.I. 2021/716), regs. 2, 37 (with reg. 5) (as amended (4.1.2024) by S.I. 2023/1399, regs. 1(2), 4, 11)
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