The Insolvency Practitioners (Recognised Professional Bodies) (Revocation of Recognition) Order (Northern Ireland) 2021

Statutory Rules of Northern Ireland

2021 No. 304

Insolvency Practitioners

The Insolvency Practitioners (Recognised Professional Bodies) (Revocation of Recognition) Order (Northern Ireland) 2021

Made

18th November 2021

Coming into operation

6th January 2022

The Department for the Economy(1) in exercise of the powers conferred on it by Article 350N(1) 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 Association of Chartered Certified Accountants and the Law Society of Northern Ireland have separately 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 Association of Chartered Certified Accountants and the Law Society of Northern Ireland are recognised professional bodies 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.

The Association of Chartered Certified Accountants is known by that name as a result of having changed its name on 15 October 1996(4)

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 6 January 2022 and the reasons for making the Order.

Citation and commencement and effect

1.—(1) This Order may be cited as the Insolvency Practitioners (Recognised Professional Bodies) (Revocation of Recognition) Order (Northern Ireland) 2021 and comes into operation on 6th January 2022.

(2) This Order has effect from 6th January 2022.

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

2.  In the Schedule to the Insolvency Practitioners (Recognised Professional Bodies) Order (Northern Ireland) 1991, omit “The Law Society of Northern Ireland” and “The Association of Chartered Certified Accountants”.

Sealed with the Official Seal of the Department for the Economy on 18 November 2021

Colin Jack

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 that Order to be recognised professional bodies for the purposes of Article 350 of the Insolvency (Northern Ireland) Order 1989. The Association of Chartered Certified Accountants (formerly the Chartered Association of Certified Accountants) and the Law Society of Northern Ireland have asked to have their recognition as recognised professional bodies revoked.

Regulation 2 of this Order amends the Insolvency Practitioners (Recognised Professional Bodies) Order (Northern Ireland) 1991, by omitting the Association of Chartered Certified Accountants and the Law Society of Northern Ireland from the Schedule to that Order with effect from 6 January 2022. From this date the Association of Chartered Certified Accountants and the Law Society of Northern Ireland will cease to be recognised professional bodies for the purposes of Article 350 of the Insolvency (Northern Ireland) Order 1989.

A notice specifying the date from which this Order takes effect and the Department’s reasons for making it, as required by Article 350N(3) of the Insolvency (Northern Ireland) Order 1989, was published on 15 November 2021. 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/insolvency-service-notice-revocation-recognition-two-bodies-recognised-professional-bodies

A regulatory impact assessment has not been produced for this instrument as it does not impose any costs on business, charities, social enterprise of voluntary bodies.

An Explanatory Memorandum has been prepared and is available alongside this Order at www.legislation.gov.uk

(1)

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

(2)

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

(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, and has been amended by the Insolvency Practitioners (Recognised Professional Bodies) (Amendment) Order (Northern Ireland) 2017 (S.R. 2017 No. 4).

(4)

The Association of Chartered Certified Accountants is a Royal Charter company. The amendment of the Charter of the body, to substitute this name, was allowed by an Order in Council dated 15th October 1996. The Association of Chartered Certified Accountants was substituted for the entry for The Chartered Association of Certified Accountants in the Schedule to S.R. 1991 No. 301 by Article 2(b) S.R. 2017 No.4.