47.— (1) The Insolvency Service may authorise a person, or a class of person, to perform the functions of an approved intermediary under this Chapter.

(2) An approved intermediary shall not charge a debtor referred to in section 27(1) any fee in connection with the performance by the approved intermediary of his or her functions under this Chapter.

(3) An approved intermediary is not liable in damages to any person for anything done or omitted to be done when acting (or purporting to act) as an approved intermediary under this Chapter.

(4) Subsection (3) shall not apply if the act or omission concerned was in bad faith.

F42[(5) The Insolvency Service, with the consent of the Minister, may and, if directed by the Minister to do so and in accordance with the terms of the direction, shall, following consultation with the Minister for Finance and any other person as the Insolvency Service deems appropriate or as the Minister directs, by regulations provide for any of the following for the purposes of the authorisation, regulation and supervision of approved intermediaries and the protection of debtors and creditors who are or may become specified debtors or specified creditors:

(a) the requirements applicable to—

(i) the authorisation of persons as approved intermediaries under this section, and

(ii) the dealings of an approved intermediary with the Insolvency Service;

(b) the requirements to be met in the performance of their functions under this Act by approved intermediaries including, without limiting the generality of the foregoing, in relation to:

(i) the public interest;

(ii) the duties owed to debtors and creditors who are or may become specified debtors or specified creditors;

(iii) the professional and ethical conduct of approved intermediaries;

(iv) the maintenance of the confidentiality of the information of debtors and creditors who are or may become specified debtors or specified creditors;

(v) case management in respect of debtors who are or may become specified debtors;

(vi) conflicts of interest;

(c) the qualifications (including levels of training, education, expertise and experience) or any other requirements (including required standards of competence) for the authorisation of persons as approved intermediaries under this section;

(d) the records, including files and accounts, to be maintained, including in electronic form, by an approved intermediary;

(e) the requirements to be met by an approved intermediary when handling complaints against that approved intermediary;

(f) any other matter relating to the authorisation, supervision or regulation of approved intermediaries which is incidental to or is considered by the Insolvency Service to be necessary or expedient for the said purposes or all or any of the matters referred to in this subsection.

(5A) The Insolvency Service may do any thing which is necessary or expedient to monitor an approved intermediary’s compliance with his or her obligations under this Act and regulations made under this Act.]

(6) Regulations under subsection (5) may provide for the withdrawal of an authorisation of a person where he or she no longer meets the criteria for such an authorisation prescribed in those regulations.

(7) The Insolvency Service may, out of the proceeds of fees charged under section 20, make payments to an approved intermediary in connection with the performance of his or her functions under this Chapter.

F43[(8) Where an approved intermediary resigns from the role of approved intermediary as respects a debtor, he or she shall notify the Insolvency Service of that fact, which notification shall be accompanied by a statement of the reasons for his or her resignation.

(9) Where, at any time after the debtor has made the confirmation referred to in section 27(3) but before the Debt Relief Notice is issued under section 31, the approved intermediary concerned (‘original approved intermediary’)—

(a) dies,

(b) becomes incapable, through ill-health or otherwise, of performing the functions of an approved intermediary as respects the debtor,

(c) resigns from the role of approved intermediary as respects the debtor, or

(d) is no longer entitled to perform the functions of an approved intermediary under this Act,

the debtor shall, as soon as practicable after becoming aware of that fact, appoint another approved intermediary to act as his or her approved intermediary for the purposes of this Chapter.

(10)(a) Where paragraph (a), (b) or (c) of subsection (9) applies, the debtor concerned shall, as soon as practicable, inform the Insolvency Service of that fact.

(b) Where an approved intermediary has been appointed under subsection (9), the approved intermediary shall, as soon as practicable, inform the Insolvency Service and, where applicable, a creditor to whom a notification under section 28(2) has been sent, where the period referred to in section 28(3) has not expired, of that fact.

(11) Where an approved intermediary is appointed under subsection (9)—

(a) that appointment shall not affect the validity of anything previously done under this Chapter by the original approved intermediary, and

(b) references in this Act to an approved intermediary, in relation to the debtor concerned, shall be construed as including references to the approved intermediary so appointed.]