The Insolvency (Amendment) Regulations (Northern Ireland) 2006

Insertion of new Part 5A

22.  After Part 5 (as inserted by paragraph 21) there shall be inserted—

“PART 5A INFORMATION ABOUT TIME SPENT ON A CASE TO BE PROVIDED BY INSOLVENCY PRACTITIONER TO CREDITORS ETC.

35.— (1) Subject as set out in this regulation, in respect of any case in which he acts, an insolvency practitioner shall on request in writing made by any person mentioned in paragraph (2), supply free of charge to that person a statement of the kind described in paragraph (3).

(2) The persons referred to in paragraph (1) are –

(a) any creditor in the case;

(b) where the case relates to a company, any director or contributory of that company; and

(c) where the case relates to an individual, that individual.

(3) The statement referred to in paragraph (1) shall comprise in relation to the period beginning with the date of the insolvency practitioner’s appointment and ending with the relevant date the following details—

(a) the total number of hours spent on the case by the insolvency practitioner and any staff assigned to the case during that period;

(b) for each grade of individual so engaged, the average hourly rate at which any work carried out by individuals in that grade is charged; and

(c) the number of hours spent by each grade of staff during that period.

(4) In relation to paragraph (3) the “relevant date” means the date next before the date of the making of the request on which the insolvency practitioner has completed any period in office which is a multiple of six months or, where the insolvency practitioner has vacated office, the date that he vacated office.

(5) Where an insolvency practitioner has vacated office, an obligation to provide information under this regulation shall only arise in relation to a request that is made within 2 years of the date he vacates office.

(6) Any statement required to be provided to any person under this regulation shall be supplied within 28 days of the date of the receipt of the request by the insolvency practitioner.

(7) In this regulation the expression “insolvency practitioner” shall be construed in accordance with Article 3 except that such expression shall not include an insolvency practitioner acting as nominee or supervisor where a voluntary arrangement in relation to a company or insolvent partnership is proposed or approved under Part II of the Order nor shall it include an insolvency practitioner acting as nominee or supervisor where a voluntary arrangement in relation to an individual is proposed or approved under Part VIII of the Order.

(8) In paragraph (7) the reference to Part II of the Order is, in the case of an insolvent partnership, a reference to that Part as it applies by virtue of the Insolvent Partnerships Order (Northern Ireland) 1995(1).”.

(1)

S.R. 1995 No. 225 as amended by S.R. 1996 No. 472, S.R. 2003 No. 144, S.R. 2003 No. 359 and S.R. 2003 No. 550