Part 9Insolvency etc.
Insolvency practitioners
I1433 Meaning of insolvency practitioner
1
This section applies for the purposes of section 432.
2
A person acts as an insolvency practitioner if he so acts within the meaning given by section 388 of the 1986 Act or Article 3 of the 1989 Order; but this is subject to subsections (3) to (5).
3
The expression “person acting as an insolvency practitioner” includes the official receiver acting as receiver or manager of the property concerned.
4
In applying section 388 of the 1986 Act under subsection (2) above—
a
the reference in section 388(2)(a) to a permanent or interim trustee in sequestration must be taken to include a reference to a trustee in sequestration;
b
section 388(5) (which includes provision that nothing in the section applies to anything done by the official receiver or the Accountant in Bankruptcy) must be ignored.
5
In applying Article 3 of the 1989 Order under subsection (2) above, paragraph (5) (which includes provision that nothing in the Article applies to anything done by the official receiver) must be ignored.