F1PART XIIN.I.INSOLVENCY PRACTITIONERS AND THEIR QUALIFICATION

The requisite qualification, and the means of obtaining itN.I.

Persons not qualified to act as insolvency practitionersN.I.

349.—(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 [F2;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,

[F3(aa)a moratorium period under a debt relief order applies in relation to him,]

[F4(b)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]

(c)he is a patient within the meaning of Part VII of the Mental Health Act 1983F5, section 125(1) of the Mental Health (Scotland) Act 1984F6 or Part VIII of the Mental Health (Northern Ireland) Order 1986F7.

[F8(5) A person is not qualified to act as an insolvency practitioner while a bankruptcy restrictions order [F9or a debt relief restrictions order] is in force in respect of him.]