Citation and commencement

1. These Regulations may be cited as the Insolvency Practitioners (Amendment) Regulations 2015 and shall come into force on 1st October 2015.

Interpretation

2. In these Regulations references to a numbered regulation or schedule are to regulations and schedules so numbered in the Insolvency Practitioners Regulations 2005( 2 ).

Amendments to Regulation 13

3. —(1) For regulation 13(1) substitute—

“ (1) In respect of each case in which an insolvency practitioner acts, the insolvency practitioner shall maintain records containing information sufficient to show and explain—

(a) the administration of that case by the insolvency practitioner and the insolvency practitioner’s staff; and

(b) any decisions made by the insolvency practitioner which materially affect that case. ”

(2) In regulation 13(2) substitute “paragraph (1)” for “Schedule (3) as is applicable to the case”.

(3) Regulations 13(3) and (4) are revoked.

Amendments to Regulation 14

4. In regulation 14—

(a) substitute “person” for “persons”; and

(b) omit “15(1)(a) and”.

Amendments to Schedule 2

5. In paragraph 9(3) omit “and Schedule 3”.

6. In paragraph 11(4) after “paragraph 12” substitute “and” for “,” and omit “and Schedule 3”.

Revocation of Schedule 3

7. Schedule 3 is revoked.