Personal Insolvency Act 2012
|
Renewal of authorisation to carry on practice as a personal insolvency practitioner. |
166.— (1) An authorisation to carry on practice as a personal insolvency practitioner, unless it has been revoked, may, subject to subsection (4), be renewed by the Insolvency Service. | |
(2) An application for the renewal of an authorisation to carry on practice as a personal insolvency practitioner shall be— | ||
(a) in the prescribed form, | ||
(b) made at least 6 weeks before the expiration of the authorisation, and | ||
(c) accompanied by— | ||
(i) such documents as may be prescribed, and | ||
(ii) the prescribed fee. | ||
(3) Subject to subsection (4), where an application under subsection (2) for the renewal of an authorisation is not determined by the Insolvency Service before the authorisation expires, and the application was made in accordance with paragraph (b) of that subsection, the authorisation shall continue in force until the application has been so determined. | ||
(4) Subject to section 167 , the Insolvency Service shall refuse to renew an authorisation to carry on practice as a personal insolvency practitioner if— | ||
(a) subsection (2) has not been complied with in respect of the person, | ||
(b) the application is not accompanied by a report in the prescribed form by a duly qualified accountant that appropriate financial systems and controls are still in place for the protection of moneys received from debtors by the applicant, | ||
(c) the applicant does not satisfy the Insolvency Service that there is available to the person the required level of professional indemnity insurance in respect of the authorisation to carry on practice as a personal insolvency practitioner, | ||
(d) in the case of an individual, the person is an undischarged bankrupt. | ||
(5) Where an authorisation to carry on practice as a personal insolvency practitioner is renewed under this Act, the period of validity of the authorisation as so renewed shall be deemed to start to run on the day that the authorisation would have expired if no application under subsection (2) for its renewal had been made, and irrespective of whether the authorisation is renewed before, on or after that day. |