Personal Insolvency Act 2012

PART 5

Regulation of Personal Insolvency Practitioners

Chapter 1

General Provisions

159.

Interpretation ( Part 5).

159.— In this Part—

“accounting records”, in relation to a personal insolvency practitioner, mean the books of account and all other documents required to be kept by the personal insolvency practitioner in accordance with regulations made under section 173 ;

F110 [ authorised officer means a person appointed under section 176B to be an authorised officer; ]

“complainant”, in relation to a complaint, means the person who made the complaint;

“complaint” means a complaint under section 178 ;

F111 [ improper conduct , in relation to a personal insolvency practitioner, means

(a) the commission by the personal insolvency practitioner of an act which renders the personal insolvency practitioner no longer a fit and proper person to carry on practice as a personal insolvency practitioner,

(b) the commission by the personal insolvency practitioner of a material contravention of a provision of this Act or any regulations made thereunder, or

(c) failure by the personal insolvency practitioner to perform his or her functions under this Act in accordance with this Act and any regulations made thereunder. ]

“inspector” means a person appointed under section 176 to be an inspector;

“investigation” means an investigation under section 180 ;

“investigation report”, in relation to an investigation, means a report in writing prepared, following the completion of the investigation, by the inspector appointed under section 180(1)(b) to carry out the investigation—

( a) stating that the inspector—

(i) is satisfied that improper conduct by the personal insolvency practitioner to whom the investigation relates has occurred or is occurring, or

(ii) is not so satisfied,

as appropriate,

( b) if paragraph (a)(i) is applicable, stating the grounds on which the inspector is so satisfied, and

( c) if paragraph (a)(ii) is applicable, stating—

(i) the basis on which the inspector is not so satisfied, and

(ii) the inspector’s opinion, in view of such basis, on whether or not a further investigation of the personal insolvency practitioner is warranted and, if warranted, the inspector’s opinion on the principal matters to which the further investigation should relate;

“maintain”, in relation to a record, includes create and keep;

“major sanction”, in relation to a personal insolvency practitioner, means—

( a) the revocation of his or her authorisation to carry on practice as a personal insolvency practitioner and a prohibition (which may be a permanent prohibition, a prohibition for a specified period or a prohibition subject to specified conditions) against the former personal insolvency practitioner applying for a new authorisation,

( b) the suspension for a specified period of his or her authorisation to carry on practice as a personal insolvency practitioner or, in any case where the period of such suspension (in this paragraph referred to as “the relevant period”) sought to be imposed is longer than the period of validity of the authorisation left to run, the suspension of the authorisation during that period and a prohibition for a specified period against the former personal insolvency practitioner applying for a new authorisation, which periods, added together, are equivalent to the relevant period,

( c) a direction to the personal insolvency practitioner that the personal insolvency practitioner pay a sum, as specified in the direction but not exceeding €30,000, to the Insolvency Service, being the whole or part of the cost to the Insolvency Service of an investigation of the personal insolvency practitioner, or

( d) any combination of any of the sanctions specified in paragraphs (a) to (c);

“minor sanction”, in relation to a personal insolvency practitioner, means—

( a) the issue, to the personal insolvency practitioner, of—

(i) advice,

(ii) a caution,

(iii) a warning, or

(iv) a reprimand,

or

( b) any combination of any of the sanctions specified in paragraph (a);

“moneys received from debtors” means moneys received from a debtor or from third parties in respect of the debtor under a Debt Settlement Arrangement or a Personal Insolvency Arrangement;

“professional indemnity insurance” means a policy of indemnity insurance against losses arising from claims in respect of any description of civil liability incurred by a person arising from his or her carrying on practice as a personal insolvency practitioner;

“Register” means the Register of Personal Insolvency Practitioners established under section 162 ;

“satisfied” means satisfied on reasonable grounds;

“specified”—

( a) in relation to a period, means a period which is reasonable in the circumstances concerned,

( b) in relation to a time, date or place, means a time, date or place, as the case may be, which is reasonable in the circumstances concerned;

“terms” includes conditions.

Annotations:

Amendments:

F110

Inserted (29.09.2015) by Personal Insolvency (Amendment) Act 2015 (32/2015), s. 23(a), S.I. No. 414 of 2015.

F111

Substituted (29.09.2015) by Personal Insolvency (Amendment) Act 2015 (32/2015), s. 23(b), S.I. No. 414 of 2015.