The Insolvency Practitioners (Recognised Professional Bodies) (Amendment) Order (Northern Ireland) 2017

Statutory Rules of Northern Ireland

2017 No. 4

Insolvency Practitioners

The Insolvency Practitioners (Recognised Professional Bodies) (Amendment) Order (Northern Ireland) 2017

Made

10th January 2017

Coming into operation

11th January 2017

The Department for the Economy(1) in exercise of the powers conferred on it by Articles 350(1) and 350N of the Insolvency (Northern Ireland) Order 1989(2) makes the following Order.

In accordance with Article 350N(1) of the Insolvency (Northern Ireland) Order 1989 the Law Society has requested that an order be made to revoke the Insolvency Practitioners (Recognised Professional Bodies) Order (Northern Ireland) 1991(3) insofar as it declares that the Law Society is a recognised professional body under Article 350 of the Insolvency (Northern Ireland) Order 1989. The Department is satisfied that it is appropriate in all the circumstances of the case to make that revocation.

In accordance with Article 350N(3) of the Insolvency (Northern Ireland) Order 1989 the Department published a notice specifying that the Order is to take effect from 11^th January 2017 and the reasons for making the Order.

Citation, commencement and effect

1.—(1) This Order may be cited as the Insolvency Practitioners (Recognised Professional Bodies) (Amendment) Order (Northern Ireland) 2017 and shall come into operation on the 11^th January 2017.

(2) This Order has effect from 11^th January 2017.

Amendment of the Insolvency Practitioners (Recognised Professional Bodies) Order (Northern Ireland) 1991

2.  The Schedule to the Insolvency Practitioners (Recognised Professional Bodies) Order (Northern Ireland) 1991, is amended as follows—

(a) Omit “The Law Society”; and

(b) For “The Chartered Association of Certified Accountants” substitute “The Association of Chartered Certified Accountants”.

Sealed with the Official Seal of the Department for the Economy on 10^th January 2017

June Ingram

A senior officer of the Department for the Economy

EXPLANATORY NOTE

(This note is not part of the Order)

The Insolvency Practitioners (Recognised Professional Bodies) Order (Northern Ireland) 1991 declares the bodies specified in the Schedule to the Order to be recognised professional bodies under Article 350 of the Insolvency (Northern Ireland) Order 1989. The Law Society through the Solicitor’s Regulatory Authority (an independent operating division of the Law Society) has requested that the Law Society is removed from this Schedule in accordance with the procedure in Article 350N of the Insolvency (Northern Ireland) Order 1989. Regulation 2(a) of this Order amends the Schedule to the Insolvency Practitioners (Recognised Professional Bodies) Order (Northern Ireland) 1991 in accordance with this request. As a result the Law Society will cease to be a recognised professional body under Article 350 of the Insolvency (Northern Ireland) Order 1989 from the 11^th January 2017. A notice stating the date from which this Order takes effect and the Department’s reasons for making the Order is published in accordance with Article 350N(3) of the Insolvency (Northern Ireland) Order 1989. A print version of the notice is available from the Insolvency Service, Department for the Economy, Fermanagh House, Ormeau Avenue, Belfast, BT2 8NJ. The notice is available online at:

https://www.economy-ni.gov.uk/publications/notice-accordance-article-350n-3-insolvency-northern-ireland-order-1989

Regulation 2(b) of the Order amends the title of a second body specified in the Schedule to the Insolvency Practitioners (Recognised Professional Bodies) Order (Northern Ireland) 1991. The body formerly known as the Chartered Association of Certified Accountants has changed its name to the Association of Chartered Certified Accountants and the Order substitutes the new name for the former one in the Schedule.

(1)

Formerly the Department of Enterprise, Trade and Investment; see section 1(3) of the Departments Act (Northern Ireland) 2016 (2016 c. 5(N.I.))

(2)

S.I. 1989/2405 (N.I. 19), Article 350 was substituted by section 14(4) of the Insolvency (Amendment) Act (Northern Ireland) 2016 (2016 c.2 (N.I.) and Article 350N was inserted by section 17(1) of that Act

(3)

S.R. 1991 No. 301 is treated as made under Article 350(1) and (5) of the Insolvency (Northern Ireland) Order 1989 as substituted by section 14(4) of the Insolvency (Amendment) Act (Northern Ireland) 2016