
2022 No. 241
InsolvencyInsolvency Practitioners
The Insolvency Practitioners (Amendment) Regulations (Northern Ireland) 2022
Made 4th October 2022
Coming into operation 4th November 2022
The Department for the Economy makes the following Regulations in exercise of the powers conferred by Articles 349(3) and 363 of the Insolvency (Northern Ireland) Order 1989.
Citation and interpretation
1 
These Regulations may be cited as the Insolvency Practitioners (Amendment) Regulations (Northern Ireland) 2022 and come into operation on 4th November 2022.
Amendments to the Insolvency Practitioners Regulations (Northern Ireland) 2006
2 
The Insolvency Practitioners Regulations (Northern Ireland) 2006 are amended as set out in regulations 3 to 12.
3 
In regulation 2 (Interpretation: general), in paragraph (1), for the meaning of “insolvency practitioner” substitute, “Insolvency Practitioner” means a person who is authorised to act as an insolvency practitioner under Article 349A
4 
In regulation 4 (Revocations and transitional and saving provisions)–
(a) omit paragraph (2); and
(b) in paragraph (4) for the words “regulations 16 and 17” substitute “regulation 17”.
5 
Omit Part 2 (Authorisation of Insolvency Practitioners by Competent Authorities and Related Matters).
6 
In regulation 12 (The Requirements for Security for the Proper Performance of the Functions of an Insolvency Practitioner etc.) omit paragraph (3).
7 
In regulation 13 (Records to be maintained by insolvency practitioners)-
(a) For paragraph (1) substitute—“
(1) In respect of each case in which an insolvency practitioner acts, the insolvency practitioner shall maintain records containing information sufficient to show and explain—
(a) the administration of that case by the insolvency practitioner and the insolvency practitioner’s staff; and
(b) any decisions made by the insolvency practitioner which materially affect that case.”
(b) In paragraph (2) substitute “paragraph (1)” for “Schedule (3) as is applicable to the case.”
(c) Omit paragraph (3).
8 
Omit regulation 14 (Notification of whereabouts of records).
9 
In regulation 15 (Inspection of records) omit paragraph (1)(b).
10 
Omit regulation 16 (Inspection of practice records).
11 
In Schedule 2 (Requirements for Security and Related Matters)-
(a) In paragraph 9(2) omit sub-paragraph (b).
(b) In paragraph 10(1) omit sub-paragraph (b).
(c) In paragraph 12(2) omit sub-paragraph (b).
12 
Omit Schedule 3 (Records to be Maintained-Minimum Requirements).
Sealed with the Official Seal of the Department for the Economy on 4th October 2022
Colin Jack
A senior officer of the Department for the Economy
