PART 1Introductory

Interpretation – meaning of initial and subsequent capacity3.

(1)

In these Regulations an insolvency practitioner holds office in relation to an insolvent in a “subsequent capacity” where he holds office in relation to that insolvent in one of the capacities referred to in paragraph (3) and immediately prior to his holding office in that capacity, he held office in relation to that insolvent in another of the capacities referred to in that paragraph.

(2)

The first office held by the insolvency practitioner in the circumstances referred to in paragraph (1) is referred to in these Regulations as the “initial capacity”.

(3)

The capacities referred to in paragraph (1) are:

(a)

nominee in relation to proposals for a voluntary arrangement under Part II of the Order;

(b)

supervisor of a voluntary arrangement under Part II of the Order;

(c)

administrator;

(d)

provisional liquidator;

(e)

liquidator;

(f)

nominee in relation to proposals for a voluntary arrangement under Chapter II of Part VIII of the Order;

(g)

supervisor of a voluntary arrangement under Chapter II of Part VIII of the Order; and

(h)

trustee.