Section 391L

An order under section 391(1) or (2) in relation to a recognised professional body may be revoked by the Secretary of State by order if the Secretary of State is satisfied that— an act or omission of the body (or a series of such acts or omissions) in discharging one or more of its regulatory functions has had, or is likely to have, an adverse impact on the achievement of one or more of the regulatory objectives, and it is appropriate in all the circumstances of the case to revoke the body's recognition under section 391. If the condition set out in subsection (3) is met, an order under section 391(1) in relation to a recognised professional body may be revoked by the Secretary of State by an order which also declares the body concerned to be a recognised professional body which is capable of providing its insolvency specialist members with partial authorisation only of the kind specified in the order (see section 390A(1)). The condition is that the Secretary of State is satisfied— as mentioned in subsection (1)(a), and that it is appropriate in all the circumstances of the case for the body to be declared to be a recognised professional body which is capable of providing its insolvency specialist members with partial authorisation only of the kind specified in the order. In this Part— an order under subsection (1) is referred to as a “revocation order”; an order under subsection (2) is referred to as a “partial revocation order”. A revocation order or partial revocation order— has effect from such date as is specified in the order, and may make provision for members of the body in question to continue to be treated as fully or partially authorised (as the case may be) to act as insolvency practitioners for a specified period after the order takes effect. A partial revocation order has effect as if it were an order made under section 391(2).

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