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Explanatory Note

(This note is not part of the Order.)

These Regulations make amendments to the Insolvency Practitioners Regulations (Northern Ireland) 1991 in the light of the amendments made by Article 6 of the Insolvency (Northern Ireland) Order 2002 to Article 3 of the Insolvency (Northern Ireland) Order 1989 which defines the meaning of “act as an insolvency practitioner”. The requirements of the 1991 Regulations relating to security or caution are extended to cover cases where a person acts as a nominee in relation to a voluntary arrangement under Part II or Part VIII of the Insolvency (Northern Ireland) Order 1989.