F9PART XIIINSOLVENCY PRACTITIONERS AND THEIR QUALIFICATION
The requisite qualification, and the means of obtaining it
Persons not qualified to act as insolvency practitioners349
1
A person who is not an individual is not qualified to act as an insolvency practitioner.
2
A person is not qualified to act as an insolvency practitioner at any time unless at that time—
a
he is authorised so to act by virtue of membership of a professional body recognised under Article 350, being permitted so to act by or under the rules of that body, or
b
he holds an authorisation granted by a competent authority under Article 352 F1;or
c
he holds an authorisation for a corresponding purpose granted by a competent authority in Great Britain under Section 393 of the Insolvency Act 1986.
3
A person is not qualified to act as an insolvency practitioner in relation to another person at any time unless—
a
there is in force at that time security, and
b
that security meets the prescribed requirements with respect to his so acting in relation to that other person.
4
A person is not qualified to act as an insolvency practitioner at any time if at that time—
a
he has been adjudged bankrupt or sequestration of his estate has been awarded and (in either case) he has not been discharged,
F2aa
a moratorium period under a debt relief order applies in relation to him,
F3b
he is subject to a disqualification order made or a disqualification undertaking accepted under the Company Directors Disqualification Act 1986 or the Company Directors Disqualification (Northern Ireland) Order 2002, or
Pts. XI-XIV modified by S.R. 2004/307 (as amended (1.10.2006) by Limited Liability Partnerships (Amendment) Regulations (Northern Ireland) 2006 (S.R. 2006/377), reg. 3, Sch. 2)