Section 390

A person who is not an individual is not qualified to act as an insolvency practitioner. A person is not qualified to act as an insolvency practitioner at any time unless at that time the person is appropriately authorised under section 390A. A person is not qualified to act as an insolvency practitioner in relation to another person at any time unless— there is in force at that time security or, in Scotland, caution for the proper performance of his functions, and that security or caution meets the prescribed requirements with respect to his so acting in relation to that other person. A person is not qualified to act as an insolvency practitioner at any time if at that time— he has been made bankrupt under this Act or the Insolvency (Northern Ireland) Order 1989 or sequestration of his estate has been awarded and (in either case) he has not been discharged, a moratorium period under a debt relief order under this Act or the Insolvency (Northern Ireland) Order 1989 applies in relation of him, he is subject to a disqualification order made or a disqualification undertaking accepted under the Company Directors Disqualification Act 1986 or the Company Directors Disqualification (Northern Ireland) Order 2002, he is a patient within the meaning of . . . section 329(1) of the Mental Health (Care and Treatment)(Scotland) Act 2003or has had a guardian appointed to him under the Adults with Incapacity (Scotland) Act 2000 (asp 4)., or he lacks capacity (within the meaning of the Mental Capacity Act 2005) to act as an insolvency practitioner. A person is not qualified to act as an insolvency practitioner while there is in force in respect of that person— a bankruptcy restrictions order under this Act, the Bankruptcy (Scotland) Act 1985 or the Bankruptcy (Scotland) Act 2016 or the Insolvency (Northern Ireland) Order 1989, or a debt relief restrictions order under this Act or that Order.

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Source: legislation.gov.uk · retrieved 2026-09-04