164.— (1) Subject to subsections (3) and (5), the Insolvency Service may authorise an individual to carry on practice as a personal insolvency practitioner and shall furnish to that individual the registration number assigned to such person for the purposes of the Register.

(2) When deciding whether to authorise an individual to carry on practice as a personal insolvency practitioner, the Insolvency Service shall take into account any information supplied to it under sections 163 and 168.

(3) Subject to section 165, the Insolvency Service shall refuse to authorise an individual to carry on practice as a personal insolvency practitioner if—

(a) section 163 has not been complied with as respects the individual,

(b) the individual has not furnished sufficient evidence to show that there is available to him or her the required level of professional indemnity insurance,

(c) the individual—

(i) is under 18 years of age, or

(ii) is an undischarged bankrupt,

(d) the Insolvency Service is satisfied that the individual—

(i) is not a fit and proper person to carry on practice as a personal insolvency practitioner,

(ii) is not competent to carry on practice as a personal insolvency practitioner or does not meet the levels of education, training and experience specified by the Insolvency Service, or

(iii) does not comply with any requirement (not being a requirement referred to in any of paragraphs (a) to (c) of this subsection) of this Act or of regulations made under this Act applicable to the person.

F132[(4) An authorisation to carry on practice as a personal insolvency practitioner, unless sooner surrendered or revoked or otherwise ceasing to be in force, shall remain in force for a period to be determined by the Insolvency Service, but such period shall not exceed 5 years from the date on which the authorisation is issued.]

(5) An authorisation to carry on practice as a personal insolvency practitioner is personal to the personal insolvency practitioner concerned.

(6) An authorisation to carry on practice as a personal insolvency practitioner shall not authorise the person concerned to carry on any other form of financial advisory services subject to regulation by the Central Bank of Ireland.