SCHEDULES
SCHEDULE 6 Bodies Recognised under s.32: Supplementary Provisions
Intervention by Council
10
1
Subject to sub-paragraph (2), where—
a
the Council is satisfied that a recognised body F1or a manager of such a body has failed to comply with any rules applicable to it by virtue of section 32; or
F2aa
the Council is satisfied that a recognised body has been carrying on business in breach of any condition subject to which the body's recognition under section 32 of this Act has effect; or
b
a person has been appointed receiver or manager of property of a recognised body ; or
F3c
a relevant insolvency event occurs in relation to a recognised body; or
d
the Council has reason to suspect dishonesty on the part of any F4manager or employee of a recognised body in connection with
F5i
that body's business,
ii
any trust of which that body is or was a trustee,
iii
any trust of which the manager or employee is or was a trustee in his capacity as such a manager or employee, or
iv
the business of another body in which the manager or employee is or was a manager or employee or the practice (or former practice) of the manager or employee;
F6or
e
the Council is satisfied that it is necessary to exercise the powers conferred by Part 2 of Schedule 5 (or any of them) in relation to a recognised body to protect—
i
the interests of clients (or former or potential clients) of the recognised body,
ii
the interests of the beneficiaries of any trust of which the recognised body is or was a trustee, or
iii
the interests of the beneficiaries of any trust of which a person who is or was a manager or employee of the recognised body is or was a trustee in that person's capacity as such a manager or employee,
the powers conferred by Part II of Schedule 5 shall be exercisable in relation to the recognised body and its business in like manner as they are exercisable in relation to a licensed conveyancer and his practice.
F71A
For the purposes of this paragraph a relevant insolvency event occurs in relation to a recognised body if—
a
a resolution for a voluntary winding-up of the body is passed without a declaration of solvency under section 89 of the Insolvency Act 1986;
b
the body enters administration within the meaning of paragraph 1(2)(b) of Schedule B1 to that Act;
c
an administrative receiver within the meaning of section 251 of that Act is appointed;
F9d
a winding up becomes a creditors’ voluntary winding up under section 96 of that Act (conversion to creditors’ voluntary winding up);
e
an order for the winding up of the body is made.
2
F8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .