PIA Initiation
S.I. No. 209/2013 –
Personal Insolvency Act 2012 (Authorisation and Supervision of Personal Insolvency Practitioners) Regulations 2013.
The Insolvency Service of Ireland, in exercise of the powers conferred on it under Section 3 of the Personal Insolvency Act 2012 and with the consent of the Minster for Justice and Equality, for the purposes of the control and supervision of personal insolvency practitioners and the protection of debtors and creditors who are or may become parties to a debt settlement arrangement or personal insolvency arrangement, hereby makes the following regulations:
Citation and Purpose
1. (1) These Regulations may be cited as the Personal Insolvency Act 2012 (Authorisation and Supervision of Personal Insolvency Practitioners) Regulations 2013.
(2) These Regulations are made for the purposes of Section 161 , Section 163 , Section 170 and Section 171 of the Personal Insolvency Act 2012 [No. 44 of 2012].
Scope
2. These Regulations apply to applicants for authorisation to carry on practice as a personal insolvency practitioner and to personal insolvency practitioners authorised under section 164 of the Personal Insolvency Act 2012 [No. 44 of 2012].
Definitions
3. In the Regulations:
“Act” means the Personal Insolvency Act 2012 [No. 44 of 2012];
“applicant” means a person applying for an authorisation;
“authorisation” means an authorisation to carry on the practice of a personal insolvency practitioner in accordance with the Act.
Qualifying Criteria and Authorisation Requirements and Standards Qualifying Criteria
4. (1) An individual may make an application to carry on practice as a personal insolvency practitioner if that individual:
(a)(i) is a solicitor in respect of whom a practising certificate (within the meaning of the Solicitors Acts 1954 to 2011) is in force; or
(ii) is a barrister at law called to the Bar of Ireland; or
(iii) is a qualified accountant and a member of a prescribed accountancy body (within the meaning of section 4 of the Companies (Auditing and Accounting) Act 2003 ; or
(iv) is a qualified financial advisor who holds a current qualification from the Life Insurance Association of Ireland (LIA), the Insurance Institute or the Institute of Bankers School of Professional Finance; or
(v) holds a qualification in either law, business, finance or other appropriate similar qualification to the satisfaction of the Insolvency Service of Ireland recognised to at least level 7 of the National Qualifications Framework by Quality and Qualifications Ireland (or equivalent); and
(b) can demonstrate to the satisfaction of the Insolvency Service of Ireland that he or she has relevant knowledge and experience of and has completed a course of study and passed an examination on:
(i) the law and practice generally as it applies in the State relating to the insolvency of individuals; and
(ii) the Act, such as would, in the opinion of the Insolvency Service of Ireland, allow him or her to discharge the statutory duties and functions of a personal insolvency practitioner under the Act; and
(c) is not prohibited by law from acting as a personal insolvency practitioner.
(2) Before an individual will be allowed to carry on the practice of a personal insolvency practitioner, the individual must satisfy the Insolvency Service of Ireland that he or she:
(a) has adequate organisational capability and resources to carry on the practice of a personal insolvency practitioner under the Act;
(b) holds, or will hold before commencing to carry on practice as a personal insolvency practitioner, a policy of professional indemnity insurance which meets the requirements prescribed in these Regulations;
(c) can meet and comply with the requirements and obligations applicable to the practice of a personal insolvency practitioner as set out in the Act, in these Regulations and in Regulations made under the Act;
(d) has submitted, in such manner as may be specified by the Insolvency Service of Ireland, a completed application in the prescribed form together with such supporting information, documentation and mandates as the Insolvency Service of Ireland has requested; and
(e) is tax compliant.
Authorisation
5. (1) The prescribed application form for an authorisation shall be that set out in the schedule to these Regulations. An application for authorisation as a personal insolvency practitioner shall be submitted in the prescribed application form.
(2) At any time before the grant of, or refusal to grant, an authorisation, the Insolvency Service of Ireland may request the applicant to clarify the information provided or to supply further information in respect of the applicant’s character, competence or financial position or may make such enquiries as may be necessary for the purpose of evaluating the application properly and comprehensively.
(3) The Insolvency Service of Ireland shall grant authorisations on the basis of the information provided to the Insolvency Service of Ireland during the application process. All applicants, if granted an authorisation to carry on practice as a personal insolvency practitioner, shall when engaging in that practice, operate on a basis consistent with the information provided to the Insolvency Service of Ireland in support of his or her application. The Insolvency Service of Ireland may initiate the complaints process under the Act if it satisfies itself, on reasonable grounds, that the circumstances under which the authorisation was granted have changed to the extent that an application for authorisation would have been refused had the application been made in the changed circumstances.
(4) An applicant shall take all reasonable steps to ensure that the information provided in support of his or her application is accurate and complete.
(5) Without prejudice to Regulation 5(4), the Insolvency Service of Ireland will advise an applicant when it has determined that an application is full and complete.
Professional Indemnity Insurance
6. (1) A personal insolvency practitioner shall have in place a policy of professional indemnity insurance covering his or her practice as a personal insolvency practitioner which complies with Regulation 6(2) to 6(5) (inclusive).
(2) The amount insured for each claim shall be not less than €1 million and a minimum of €1.5 million in aggregate.
(3) Where a personal insolvency practitioner holds a policy of professional indemnity insurance, the personal insolvency practitioner shall provide the Insolvency Service of Ireland, prior to commencing to carry on the practice of a personal insolvency practitioner and subsequently when seeking renewal of his or her authorisation, with a written confirmation to the Insolvency Service of Ireland from the insurer that the policy of professional indemnity insurance covers his or her practice as a personal insolvency practitioner and meets the level of cover specified in Regulation 6(2).
(4) A personal insolvency practitioner shall hold a policy of professional indemnity insurance on a continuing basis for the duration of his or her authorisation as a personal insolvency practitioner.
(5) A personal insolvency practitioner who has had his or her authorisation withdrawn, revoked or terminated at his or her request in accordance with Regulation 7, shall seek to ensure that the policy of professional indemnity insurance will cover any claims made subsequent to the withdrawal, revocation or termination at his or her request, of the authorisation.
Voluntary Termination of an Authorisation
7. (1) A personal insolvency practitioner (referred to in this part of these Regulations as an “outgoing personal insolvency practitioner”) who intends to cease practice as a personal insolvency practitioner must provide the Insolvency Service of Ireland with a written notice of his or her intention to cease practice (referred to in these Regulations as a “notification of termination”) at least 6 weeks prior to ceasing practice (the “effective date”).
(2) A notification of termination signed and dated by the outgoing personal insolvency practitioner shall cover the matters set out in Regulation 7(3).
(3) The outgoing personal insolvency practitioner shall ensure that a notification of termination shall contain:
(a) the name and contact details of any personal insolvency practitioner (referred to in these Regulations as an “incoming personal insolvency practitioner”), who has agreed to be appointed in respect of the relevant potential or outstanding Debt Settlement Arrangements and/or Personal Insolvency Arrangements in respect of which the outgoing personal insolvency practitioner is appointed;
(b) written confirmation (if so obtained), addressed to the outgoing personal insolvency practitioner and the Insolvency Service of Ireland from the incoming personal insolvency practitioner, that he or she is willing to act as a personal insolvency practitioner in respect of the relevant potential or outstanding Debt Settlement Arrangements and/or Personal Insolvency Arrangements for which the outgoing personal insolvency practitioner is appointed and the incoming personal insolvency practitioner has agreed to be appointed;
(c) original written consents (if so obtained), signed by the relevant debtor, to the appointment of the incoming personal insolvency practitioner in respect of each relevant potential or outstanding Debt Settlement Arrangement or Personal Insolvency Arrangement;
(d) confirmation that each Debt Settlement Arrangement account and/or Personal Insolvency Arrangement account operated by the outgoing personal insolvency practitioner will be closed and all funds will be transferred to corresponding Debt Settlement Arrangement accounts and/or Personal Insolvency Arrangement accounts operated by the relevant incoming personal insolvency practitioner or that alternative arrangements will be made for control of the operation of these accounts to pass from the outgoing personal insolvency practitioner to the relevant incoming personal insolvency practitioner;
(e) written confirmation from the outgoing personal insolvency practitioner addressed to the Insolvency Service of Ireland and any incoming personal insolvency practitioner that copies of all relevant records relating to the potential or outstanding relevant insolvency arrangements for which the outgoing personal insolvency practitioner is appointed will be transferred to the relevant incoming personal insolvency practitioner;
(f) written confirmation from the outgoing personal insolvency practitioner to the Insolvency Service of Ireland and any incoming personal insolvency practitioner, that the outgoing personal insolvency practitioner will co-operate with and assist the Insolvency Service of Ireland and the relevant incoming personal insolvency practitioner with any query the Insolvency Service of Ireland or, as applicable, the relevant incoming personal insolvency practitioner may have with respect to any relevant matter;
(g) a copy of the final reconciliation of the Debt Settlement Arrangement accounts and Personal Insolvency Arrangement accounts of the outgoing personal insolvency practitioner;
(h) the most recent financial statements of the outgoing personal insolvency practitioner and the audit report thereon; and
(i) a statement from the outgoing personal insolvency practitioner detailing the reasons for his or her request to terminate his or her authorisation and the effective date.
(4) An outgoing personal insolvency practitioner shall co-operate with and assist the Insolvency Service of Ireland and any incoming personal insolvency practitioner in relation to the termination of his or her practice and its continuance by the relevant incoming personal insolvency practitioner.
(5) The personal insolvency practitioner’s authorisation to carry on practice shall not terminate until the effective date.
(6) The Insolvency Service of Ireland shall terminate the authorisation of an outgoing personal insolvency practitioner on the effective date and after such termination shall make appropriate entries in the Register of Insolvency Practitioners reflecting such termination.
Regulatory Standards and Requirements Fitness and Probity
8. A personal insolvency practitioner (including, when an applicant) must be in a position to demonstrate that he or she complies with the fitness and probity requirements set out in this Part.
Independence
9. (1) A personal insolvency practitioner shall be free from any undue influence, undue guidance, or undue control of or by any other person which could prevent or hinder in any material respect the performance of his or her functions under the Act.
(2) A personal insolvency practitioner shall seek to avoid conflicts of interest with respect to the performance of his or her functions under the Act and where such conflicts arise, or may arise, a personal insolvency practitioner shall have in place and operate in accordance with a written conflicts of interest policy which complies with these Regulations. The conflicts of interest policy shall seek to identify the circumstances which constitute or may give rise to a conflict of interest entailing a risk to the interests of debtors or creditors who are, or may be, parties to a Debt Settlement Arrangement or a Personal Insolvency Arrangement in respect of which the personal insolvency practitioner is, or proposes, to be appointed and specify procedures to be followed and measures to be adopted to manage such conflicts.
(3) A personal insolvency practitioner shall make a conflict of interest assessment in respect of a debtor prior to being appointed by the debtor and in respect of the debtor’s creditor(s), on being notified by the debtor of the identity of the creditor(s).
(4) Where a conflict of interest arises, or may arise, either before or during the term of a Debt Settlement Arrangement or a Personal Insolvency Arrangement and cannot be reasonably avoided, a personal insolvency practitioner shall disclose, in writing, the nature of the conflict of interest to the debtors and the creditors who are or may become parties to the relevant proposed Debt Settlement Arrangement or Personal Insolvency Arrangement. Where the debtor or any creditor(s) objects in writing to the personal insolvency practitioner’s appointment or, as applicable, continuation, within five working days of being notified of the conflict of interest, the personal insolvency practitioner shall not take or, as applicable, continue the appointment.
(5) Where a personal insolvency practitioner engages in forms of business other than the practice of a personal insolvency practitioner he or she shall ensure that the other business areas, to the extent that they could give rise to a conflict of interest, be open to abuse or conflict with the personal insolvency practitioner’s confidentiality obligations and functions under the Act, are appropriately segregated from his or her role as a personal insolvency practitioner.
(6) A personal insolvency practitioner shall seek to ensure that he or she or any persons employed with respect to his or her practice does not offer, give, solicit, receive or accept any gifts or rewards (monetary or otherwise) which conflict with any functions of the personal insolvency practitioner with respect to a debtor or creditor who is the subject of, covered by, or otherwise relevant to, a Debt Settlement Arrangement or Personal Insolvency Arrangement in respect of which the personal insolvency practitioner proposes to be or is appointed by the debtor.
Competent and Capable
10. A personal insolvency practitioner (including, when an applicant) shall be in a position to demonstrate to the satisfaction of the Insolvency Service of Ireland that he or she:
(a) is sufficiently competent, proficient and independent to undertake the role of a personal insolvency practitioner under the Act;
(b) has the qualifications, skills, competence and capacity appropriate to the role of a personal insolvency practitioner under the Act, gained through training and career experience;
(c) has a clear and comprehensive understanding of the relevant legal, regulatory and financial environment applicable to the role of a personal insolvency practitioner under the Act;
(d) has the organisational and financial competence, capacity and resources to undertake the role of a personal insolvency practitioner under the Act in an independent and professional manner.
Honest, Ethical and acting with Integrity
11. (1) A personal insolvency practitioner (including, when an applicant) must be able to demonstrate to the satisfaction of the Insolvency Service of Ireland that his or her ability to act as a personal insolvency practitioner under the Act is not adversely affected to a material degree where the personal insolvency practitioner is, or has been, in any jurisdiction:
(a) issued a warning, censure, suspension, reprimand or other administrative or judicial sanction or its equivalent;
(b) dismissed, or asked to resign and did resign, from any profession, vocation, office or employment or from any position of trust or fiduciary appointment, whether or not remunerated;
(c) a director (or equivalent) of a company that was struck off the register of companies (or its equivalent) by the Registrar of Companies (or its equivalent) on an involuntary basis;
(d) disqualified or restricted from acting as a director in any jurisdiction or has been disqualified from acting in any managerial capacity;
(e) convicted of an offence either of money laundering or terrorist financing (or their equivalents);
(f) convicted of an offence which could be relevant to the personal insolvency practitioner’s ability to perform his or her functions under the Act;
(g) subject to a finding, judgment or order made against him or her by any court, tribunal or administrative enquiry involving fraud, misrepresentation, dishonesty or breach of trust or where the individual is subject to any current proceedings or investigation for fraud, misrepresentation, dishonesty or breach of trust;
(h) the subject of any civil penalty enforcement action taken by a regulatory authority under applicable law; or
(i) untruthful or provided false or misleading information to the Insolvency Service of Ireland or uncooperative or misleading in any dealings with the Insolvency Service of Ireland.
(2) A personal insolvency practitioner (including, when an applicant) shall inform the Insolvency Service of Ireland of the following events when making an application to practice as a personal insolvency practitioner or, if occurring subsequently, on becoming aware of such event and shall be able to demonstrate that his or her ability to perform the role of a personal insolvency practitioner under the Act is not adversely affected to a material degree, where, in any jurisdiction:
(a) the personal insolvency practitioner, or any business in which the personal insolvency practitioner held a position of responsibility, control or influence, has been or is being, in any jurisdiction, investigated, disciplined, censured, suspended or criticised by a regulatory or professional body, a court or tribunal or administrative inquiry or investigation or any similar body, whether publicly or privately; or
(b) the personal insolvency practitioner has been found by a regulatory authority to have perpetrated or participated in any fraudulent, negligent, deceitful or otherwise discreditable business or professional practice; or
(c) the personal insolvency practitioner is or was a sole trader or a director or partner, in or in control of a legal entity, which has been refused, prohibited, restricted or suspended from the right to carry on any trade, business or profession for which a licence, registration or other authorisation is required by the law, in that jurisdiction or has had any such registration, authorisation, membership or licence revoked or suspended otherwise than on a voluntary basis.
Financial Soundness
12. (1) A personal insolvency practitioner shall manage his or her financial affairs relating to his or her practice as a personal insolvency practitioner in a sound and prudent manner.
(2) A personal insolvency practitioner shall maintain his or her tax clearance status for the duration of his or her authorisation as a personal insolvency practitioner.
Relationship with the Insolvency Service of Ireland
13. (1) A personal insolvency practitioner shall be open and co-operative in his or her dealings with the Insolvency Service of Ireland. This requirement includes, but is not limited to, the requirement to notify the Insolvency Service in writing as soon as he or she becomes aware of:
(a) any breaches of the Act or any Regulations made thereunder committed by the personal insolvency practitioner or a debtor;
(b) the commencement of any significant legal proceedings by or against the personal insolvency practitioner with such notification to include the details of the other party or parties to such proceedings; or
(c) any occurrences which impact, or have the potential to impact, significantly on the practice of the personal insolvency practitioner and his or her ability to carry on the functions of a personal insolvency practitioner under the Act.
(2) A personal insolvency practitioner shall respond to correspondence and to any requests for information from the Insolvency Service of Ireland in a timely and thorough manner.
(3) A personal insolvency practitioner shall notify the Insolvency Service of Ireland of any changes to his or her name or business name, business address, telephone number or any other contact details.
Organisation and Management
14. (1) A personal insolvency practitioner shall have and maintain an organisational structure that is clear and transparent. He or she shall have appropriate management skills and adequate levels of staff and expertise to carry out the role and functions of a personal insolvency practitioner in the interests of both debtors and creditors and in accordance with the provisions of the Act.
(2) A personal insolvency practitioner shall manage his or her business affairs in accordance with sound administrative and accounting principles and shall have in place, and maintain, up to date internal control and reporting arrangements and procedures to ensure that his or her business affairs are managed in accordance with all relevant legislation, including the requirements of the Insolvency Service of Ireland under the Act, and in accordance with best practice.
(3) A personal insolvency practitioner shall have policies, systems, procedures and internal control mechanisms in place to monitor compliance with his or her statutory obligations.
(4) A personal insolvency practitioner shall monitor and evaluate, on a regular basis, the adequacy and effectiveness of policies and procedures, systems, internal control mechanisms and arrangements, and, where issues are identified, take appropriate measures to address any deficiencies.
(5) A personal insolvency practitioner shall keep proper, up to date, accurate and complete records for at least six years after the completion of each Debt Settlement Arrangement or Personal Insolvency Arrangement in respect of which he or she is appointed.
(6) Such records, referred to in Regulation 14(5) shall include but are not limited to:
(a) identification of debtors and creditors who are, or may become, or were subject to or covered by a Debt Settlement Arrangement or, as appropriate, a Personal Insolvency Arrangement;
(b) all communications with debtors and creditors who are, or may become, or were subject to or covered by a Debt Settlement Arrangement or, as appropriate, a Personal Insolvency Arrangement and other persons concerned in preparing or administering a Debt Settlement Arrangement or, as appropriate, a Personal Insolvency Arrangement;
(c) a copy of each debtor’s Prescribed Financial Statement;
(d) details of all transactions entered into on behalf of debtors and creditors who are or may become subject to or covered by a Debt Settlement Arrangement or, as appropriate, a Personal Insolvency Arrangement;
(e) details of all fees and charges charged in performing functions under the Act as a personal insolvency practitioner, including outlays recovered, together with documentation evidencing that the fees and charges were properly due to the personal insolvency practitioner;
(f) minutes or any other record of a creditors’ meeting; and
(g) all other records required to be maintained under the Act.
(7) The records of the personal insolvency practitioner as more particularly set out at Regulation 14(5) and 14(6) must be kept in the State and made available to the Insolvency Service of Ireland on request.
(8) A personal insolvency practitioner must have effective disaster recovery procedures in place to ensure continuity of his or her functions under the Act to debtors and creditors in accordance with the terms of each potential or outstanding relevant insolvency arrangement in respect of which he or she is appointed.
(9) A personal insolvency practitioner shall respect the confidentiality of information of debtors and creditors who are or may become parties to a Debt Settlement Arrangement or Personal Insolvency Arrangement which the personal insolvency practitioner has acquired in his or her capacity as a personal insolvency practitioner and shall not disclose any such information to third parties without specific authority from the provider or, where applicable, the subject of the information unless there is a legal duty or entitlement to disclose.
(10) A personal insolvency practitioner shall not disclose a debtor’s Personal Public Service Number (commonly referred to as ‘PPSN’) to any person other than the Insolvency Service of Ireland unless there is a legal duty or entitlement to disclose it.
(11) A personal insolvency practitioner must be aware of and monitor, on an ongoing basis, all risks to the security and confidentiality of his or her records and maintain adequate technical, organisational, access and procedural safeguards to prevent, detect and remedy threats to the security of personal data held in respect of debtors or creditors who are or may become parties to a Debt Settlement Arrangement or, as applicable, a Personal Insolvency Arrangement in respect of which he or she is or may be appointed.
Fees, Costs and Outlays
15. (1) A personal insolvency practitioner may charge fees in each of the following circumstances:
(a) for all work done by him or her at any time in performing his or her functions under the Act, Regulations prescribed under the Act, or rules of court;
(b) for all work done by him or her in performing his or her functions permitted or required under the terms of a Debt Settlement Arrangement or Personal Insolvency Arrangement;
(2) A personal insolvency practitioner may charge costs and seek to recover outlay in each of the following circumstances:
(a) for all costs and outlays incurred by him or her at any time in performing his or her functions under the Act, regulations prescribed under the Act, or rules of court;
(b) for all costs and outlays incurred by him or her in performing his or her functions permitted or required under the terms of a Debt Settlement Arrangement or Personal Insolvency Arrangement;
(3) The purposes for which a personal insolvency practitioner may charge fees or costs or seek to recover outlays are set out below:
(a) the need to ensure proper and ongoing administration of Debt Settlement Arrangements and Personal Insolvency Arrangements;
(b) for the commercial interest of personal insolvency practitioners.
SCHEDULE
PRESCRIBED FORM OF PERSONAL INSOLVENCY PRACTITIONER APPLICATION FORM
Part A — Details of Applicant
1. Full Name
2. Previous Name(s) if any
3. Date of Birth
Day
Month
Year
4. Place of Birth
5. Nationality
6. Private Address
7. PPSN (if applicable)
8. Passport
Passport Number:
Country of Issue:
Expiry Date (dd/mm/yyyy)
9. Trading Name or business name of the Applicant (if different to above)
10. Address of your proposed principal place of business (i.e. the main place you will operate from/ the contact address)
11. State whether you would be self-employed or employed when practicing as a personal insolvency practitioner
12. If employed, please provide the name of your employer
13. Contact details of applicant
Telephone Number of Principal Business
Mobile Number
Fax Number
Direct e-mail address (to be used in future correspondence) *
Website Address
* All correspondence from the Insolvency Service of Ireland will be sent to this e-mail address
14. Where the business will operate from:
Home
Separate Office
15. If you are currently authorised and/or supervised by a regulatory authority inside or outside of the State please provide the following details:
Regulatory Authority (including relevant country where it is not the State)
Regulated Activity
Details of licence/ authorisation held
Period for which authorisation is held
Part B — Fitness & Probity
1. Employment History for the last ten years
Employer Name
Address
Position Held
Start & End Date
Reason for Leaving
2. Please explain any professional timeline gap exceeding 12 weeks between employments within the last 10 years.
3. Qualifications and Memberships
Please give the following details of any qualification you have acquired (including memberships of professional associations):
(See Part H — Checklist for a list of acceptable qualifications and please submit copies of all certificates listed.)
Nature of Qualification/ Membership
Name of awarding institution/ professional association
Country
Date Obtained (mm/yyyy)
4. Relevant Training
Please give similar details in relation to any other training received that may be relevant to the role of personal insolvency practitioner:
Name of Training
Name of institution/ professional association
Country
Duration of training
Date completed (mm/yyyy)
5. Details of experience relevant to the role of a personal insolvency practitioner:
Name of Employer
Position Held
Dates/Duration
Details of Experience
6. The following questions are to be answered by entering a tick in the appropriate box. In any case where the response to a question is YES, full details should be given on a separate sheet and referenced to the appropriate question.
Yes
No
A
Have you been convicted of any offence involving fraud, dishonesty, breach of trust, tax offences or of aiding and abetting tax evasion in the State or elsewhere, including any conviction related to financial crime or breach of statutory or regulatory requirements?
B
Have you been a director or manager of an entity or business that was, during your period as a director or manager, convicted of an offence involving fraud, dishonesty, breach of trust, tax offences or of aiding and abetting tax evasion in the State or elsewhere, including any conviction related to financial crime or breach of statutory or regulatory requirements?
C
Have you at any time, in the State or elsewhere, been adjudicated bankrupt, or entered into any compromise with your creditors related to bankruptcy or insolvency or are you currently the subject of bankruptcy or insolvency related proceedings or measures? Are you aware of any such proceedings or measures pending?
D
Have you at any time failed to satisfy a judgment debt under a court order made in the State or elsewhere within one year of the making of the order?
E
Have you ever been disqualified or restricted, in the State or elsewhere, by a court from acting as a director of a company or equivalent, or from acting in the management or conduct of the affairs or control of any company, partnership, or unincorporated association?
F
Have you ever been refused entry to any profession or been dismissed or compelled to resign from any office or position or trust, whether or not remunerated?
G
Have you ever been prohibited, suspended, refused or restricted in the right, in the State or elsewhere, to carry on any trade, business or profession for which a specific licence, registration or other authority is required?
H
In the last ten years, have you been the director or equivalent of an entity, in the State or elsewhere, which has gone into liquidation, receivership or examinership or similar or analogous measures or steps in any other country and, in such circumstances, entered into any arrangements with its creditors which gave rise to a loss to the creditors either while you were a director or equivalent or within one year of your ceasing to be a director or equivalent?
I
Has any entity with which you were associated as a director, manager or shareholder during the last ten years been compulsorily wound up or equivalent in the State or elsewhere, either whilst you were associated with it or within one year after you ceased to be associated with it?
J
Have you ever been concerned with the management, conduct of affairs or control of any entity that, by reason of any matter relating to a time when you were so concerned, has been censured, disciplined, restricted, sanctioned, fined, convicted or publicly criticised, by any enquiry, by any governmental, judicial or statutory authority, by any professional body or by a similar body overseas?
K
Have you ever been concerned with the management, conduct of affairs, or control of any entity which applied for regulatory approval in respect of any business in the State or elsewhere and, by reason of any matter relating to a time when you were so concerned, was refused the application or had the approval subsequently withdrawn, suspended or restricted?
Part C
Professional Indemnity Requirements
Please note that it is a mandatory requirement, set out in section 171 of the Act, that all personal insolvency practitioners hold a policy of professional indemnity insurance (‘PII’), which meets the requirements prescribed by the Insolvency Service of Ireland under section 161 of the Act.
Do you have PII in place?
Yes No
If ‘No’ you must submit written confirmation from an insurer authorised to carry on business in the State that it will provide the necessary required level of PII cover to you, should you be authorised as a personal insolvency practitioner.
If ‘Yes’, indicate what PII cover you maintain, the excess amount and include a copy of your PII policy schedule.
PII cover
Indicate what PII cover you maintain
Excess Amount
Per Claim Cover
Aggregate Cover
Effective date of PII cover: ______________
Expiry date of PII cover: ______________
Name of insurer: ______________
Number of the policy that includes your PII cover: ______________
You must provide written evidence from the relevant insurer that the PII covers your practice as a personal insolvency practitioner and meets the level of cover specified in these Regulations.
Accountant’s Report
As per section 163 (2)(b) of the Act, you must submit a report from a qualified accountant (see Part G) confirming that the appropriate financial systems and controls are or will be in place for the protection of moneys received from debtors if you are authorised to act as a personal insolvency practitioner.
Tax Clearance Certificate
Please provide a copy of your current Tax Clearance Certificate.
Part D — General Business Information
1. Do you or any person on your behalf have back-up and disaster recovery procedures in place for maintaining debtor files?
Yes No
Please provide details:
2. Please detail how you propose to market or advertise your services as a personal insolvency practitioner.
3. Please advise if you will provide any other business services other than your acting as a personal insolvency practitioner. If ‘Yes’ please outline the services provided/ to be provided.
4. If you have answered ‘Yes’ to question 3 above, you must ensure that the different business areas are appropriately segregated.
Please set out the arrangements you (including, where applicable, any arrangements through your employer with your agreement) have in place to ensure the segregation of the personal insolvency practitioner role and its records and accounts from the other areas of your business or, as applicable, that of your employer.
5. Please confirm that you have adequate resources (including financial capacity), policies, procedures, systems and controls in place necessary to comply with your obligations under the Act and the regulations.
Yes No
6. Set out the number of full time equivalent employees anticipated to be involved in the management or establishment of debt settlement arrangements or personal insolvency arrangements in respect of which you anticipate to be appointed in the first year of acting as a personal insolvency practitioner.
Number of employees: ______________
7. Set out whether the employees will be employed by you or by your employer (if any) and if the latter, provide an explanation, on a separate sheet, as to how such arrangement will permit you to carry on effectively the functions of a personal insolvency practitioner under the Act.
By me, as employer
By my employer
8. Provide an estimate of the number of debtors for whom you anticipate acting as a personal insolvency practitioner in the first year of trading.
Number of debtors: ______________
9. Please provide an estimate of your projected turnover from your activities as a personal insolvency practitioner in your first year of operating.
Turnover: € ______________
Part E — Banking Arrangements & Professional Advisors
1. Please provide the following details in relation to your main business bank account(s):
Bank Name & Address
Account Number
Sort Code
Date Opened
Please note that a business bank account must be opened prior to authorisation.
2. Give the name and address of the bank you intend to operate your DSA/PIA accounts from.
Bank Name
Address
3. Give the name of the authorised signatories on the DSA/PIA accounts.
Title
First Name
Surname
Position Held
4. Will your accounting records and other practice records be held at your principal business address?
Yes No
If No, please provide the address where the records will be held.
5. Give the name, address and telephone number of your accountants/auditors, the date of their appointment and the name of your contact person within the firm.
Name of Auditors
Address Line 1
Address Line 2
Address Line 3
Address Line 4
Telephone Number
Name of Contact Person
Date of Appointment
______________ (dd/mm/yyyy)
6. Give the name, address and telephone number of your legal advisors, the date of their appointment and the name of your contact person within the firm.
Name of Solicitor’s Firm
Address Line 1
Address Line 2
Address Line 3
Address Line 4
Telephone Number
Name of Contact Person
Date of Appointment
______________ (dd/mm/yyyy)
Part F– Personal Insolvency Practitioner Declaration
I, ______________, (insert your name) apply under section 163 of the Personal Insolvency Act 2012 for authorisation under section 164 of the Personal Insolvency Act 2012 on the basis of information supplied on this form and any additional information supplied to the Insolvency Service of Ireland in connection with this application.
I acknowledge that the Insolvency Service of Ireland may process and disclose such information in the performance of its statutory functions or otherwise as may be specifically authorised by law.
I warrant that I have truthfully and fully answered the relevant questions in this application and disclosed any other information which might reasonably be considered relevant for the purpose of this application.
I am aware that it may be an offence and/or grounds for refusal of my application and/or grounds for revocation of an authorisation granted on foot of this application to knowingly or recklessly:
a. provide false or misleading information and/or to make a false or misleading statement (which I acknowledge may include the withholding by me of relevant information) in this application for approval and/or;
b. fail to inform and/or withhold from the Insolvency Service of Ireland details of any material change in circumstances/new information which is relevant and/or material to this application.
I undertake that I will promptly notify the Insolvency Service of Ireland of any changes in the information I have provided and supply any other relevant information, which may come to light in the period during which the application is being considered and, if this application is accepted, thereafter.
I am aware of the provisions of the Personal Insolvency Act 2012 and reasonably believe that I can meet the requirements of that Act and the Regulations made under it.
Signed:
Print Name:
Dated:
Part G — Application to be authorised as a personal insolvency practitioner: Accountant’s report to the Insolvency Service of Ireland
Please note this report is to be completed by a qualified accountant who is a member of a recognised accountancy body within the meaning of the European Communities (Statutory Audits) (Directive 2006/43/EC) Regulations 2010 ( S.I. No. 220 of 2010 ) and holds a valid practising certificate.
To: The Insolvency Service of Ireland
This report is given for the purposes of section 163(2) (b) of the Personal Insolvency Act 2012 .
PART I — Applicant’s Declaration
1. ______________ [Full name of the applicant]
2. ____________________________ ______________[Address]
I, ______________, am aware that appropriate financial systems and controls are required to be in place for the protection of moneys received from debtors.
I acknowledge the requirement—
(a) that there is in place a written procedure that establishes clear accountability for the handling of funds, which ensures that receipt of funds from debtors is properly accounted for, are protected, and the funds are identifiable to specific debtors;
(b) that there is a written procedure to ensure that all cheques and other negotiable instruments are promptly endorsed and a follow-up system has been established to ensure that post-dated cheques are always deposited on the date of the cheque or within appropriate time frames;
(c) that appropriate experienced personnel are engaged to monitor, on a constant basis, funds received versus funds due and payments made and they have the ability to investigate and resolve any differences that arise;
(d) that the duties of collecting / receiving funds, maintaining documentation, making deposits or payments and reconciling records is distributed between two or more appropriate experienced individuals.
I hereby declare that appropriate financial systems and controls, as set out in matters (a) to (d) above, are/will be in place for the protection of moneys received from debtors before any personal insolvency services are provided by me.
Signed:
Print Name:
Dated:
PART II — Accountant’s Declaration
This report is given for the purposes of section 163 (2) (b) of the Personal Insolvency Act 2012 .
______________ [Name of accountant or accountancy firm], a qualified accountant who is a member of a recognised accountancy body within the meaning of the European Communities (Statutory Audits) (Directive 2006/43/EC) Regulations 2010 ( S.I. No. 220 of 2010 ) and holds a valid practising certificate, has examined the above declaration and matters (a) to (d) above and supporting documentation in respect of matters (a) to (d).
The applicant is responsible for making an application that is correct in all material particulars.
The applicant is also responsible for operating effective and appropriate financial systems and controls for the protection of moneys received from debtors. An appropriate framework of financial systems and controls provides reasonable, but not absolute, assurance that the moneys received from debtors are protected.
My/Our responsibility is to examine the declaration and the supporting evidence; and to express an opinion as to whether the applicant has or intends to have in place appropriate financial systems and controls as set out in matters (a) to (d) in the above declaration.
In my/our opinion, based on my/our examination, the applicant (has/ on the basis of representations made to me/us by the applicant, is intending to have) in place appropriate financial systems and controls, as set out in (a) to (d) above for the protection of moneys received from debtors, before any personal insolvency services are provided.
I/we have received all the explanations and information I/we require to form my/our opinion.
Signed: ______________ Date: ______________
Accountant (for and on behalf of [name of accountancy firm])
Particulars of accountant
(Firm’s) Name:
(Firm’s) Address:
Accountancy body of which a member:
Membership Number:
Note for applicant:
Please note that the application will only be processed once this report is complete and received.
Part H — Checklist
The Insolvency Service of Ireland will NOT commence the processing of any application if it is not complete in all respects. Applications will be treated as incomplete unless all questions raised in the application form are fully answered and all applicable supporting documentation (as outlined in the checklist below) has been received by the Insolvency Service of Ireland. Incomplete applications will be returned to you as invalid. Applications that have to be re-submitted will be treated as a new application.
Applicant
ISI USE ONLY
Completed Application Form (signed and all questions answered)
Registration of Business Name Certificate (Part A)If applicable, a business name registration certificate issued by the Companies Registration Office must be supplied in relation to all trading names (if different to the legal name) that the applicant wishes to use in relation to acting as a personal insolvency practitioner. Please contact the Companies Registration Office (www.cro.ie) if you have any queries in relation to your business name registration certificate. An authorisation will only be granted to an individual and not a company or partnership.
Qualification Certificates (Part B)1. Qualified accountant and a member of a prescribed accountancy body2. Qualification as a barrister at law3. Solicitor’s practicing certificate4. Qualified Financial Adviser Diploma 5. Copy of certificate/diploma from a relevant professional educational body confirming satisfactory completion of a course on personal insolvency law and practice in the State6. Copy of any educational qualification/certificate which you believe is applicable to the role of a personal insolvency practitioner
PII Cover (Part C)Written evidence of PII cover (copy of policy or similar) or that cover will be available upon authorisation.
Letter of Intent from Insurance Undertaking (Part C)
Copy of your current Tax Clearance Certificate (Part C)
Signed Declaration (Part F)
Completed Accountants Report (Part G)
The Minister for Justice and Equality consents to the making of the foregoing Regulations.
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GIVEN under the Official Seal of the Minister for Justice and Equality,
21 June 2013.
ALAN SHATTER,
Minister for Justice and Equality.
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GIVEN under the seal of the Insolvency Service of Ireland,
21 June 2013.
LORCAN O CONNOR,
Director of the Insolvency Service of Ireland.
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CATHY CLARKE,
A Member of the Staff of the Insolvency Service of Ireland Authorised by the Director of the Insolvency of Ireland to Authenticate the Seal of the Insolvency Service of Ireland.
EXPLANATORY NOTE
(This note is not part of the Instrument and does not purport to be a legal interpretation.)
These regulations set out the qualification criteria, authorisation requirements and regulatory standards which must be met for an individual to be authorised by the Insolvency Service of Ireland to carry on the practice of a personal insolvency practitioner together with the prescribed application form to be completed by applicants.
S.I. No. 247/2013 –
Personal Insolvency Act 2012 (Accounts and Related Matters) Regulations 2013.
The Insolvency Service of Ireland, in exercise of the powers conferred on it by Section 3 of the Personal Insolvency Act 2012 [No. 44 of 2012] (“the Act”) hereby makes the following regulations:
Citation and Purpose
1. (1) These Regulations may be cited as the Personal Insolvency Act 2012 (Accounts and Related Matters) Regulations 2013.
(2) These Regulations are made for the purposes of Section 173 of the Act.
Scope
2. These Regulations apply to personal insolvency practitioners authorised under Section 164 of the Act.
Safeguarding of Funds
3. (1) A personal insolvency practitioner shall put in place and maintain on a constant basis robust controls and arrangements to safeguard funds received from or on behalf of debtors or held to the credit of debtors and to prevent the use of these funds for the own account of the personal insolvency practitioner or any person other than the creditor or debtor entitled thereto.
(2) A personal insolvency practitioner shall lodge promptly and hold all funds received from or on behalf of or to the credit (in the circumstances referred to in Regulation 3(6)) of each debtor in an account (referable to that debtor only), with a bank authorised to carry on business in the State, solely for the purpose of receiving payments from that debtor and transmitting such payments to creditors after the deduction of any fees, costs and outlays payable to the personal insolvency practitioner under the Act and Regulations made pursuant to the Act and in accordance with the Debt Settlement Arrangement or, as applicable, the Personal Insolvency Arrangement.
(3) A personal insolvency practitioner shall disburse funds to creditors according to their respective entitlements under the Debt Settlement Arrangement or, as applicable, the Personal Insolvency Arrangement after their receipt from or on behalf of the debtor.
(4) All such accounts referred to in Regulation 3(2) above shall be designated as either a “DSA account” or a “PIA account”, as appropriate, depending on whether the account is to be used to make and receive payments pertaining to a Debt Settlement Arrangement (in these Regulations a “DSA account”) or to a Personal Insolvency Arrangement (in these Regulations a “PIA account”). A DSA account and a PIA account shall also contain a unique identifier that identifies the debtor that is party to the Debt Settlement Arrangement or, as applicable, the Personal Insolvency Arrangement.
(5) A personal insolvency practitioner shall ensure that funds received from or on behalf of each debtor and funds received by the personal insolvency practitioner to which creditors are entitled under the relevant Debt Settlement Arrangement or, as applicable, the Personal Insolvency Arrangement are not co-mingled with those of the personal insolvency practitioner or with those of any other person.
(6) The following shall be the only debits and credits that may be made through a designated DSA account or PIA account:
Credits (inward payments)
(a) funds received from or on behalf of the relevant debtor in respect of payments due under the Debt Settlement Arrangement or, as applicable, the Personal Insolvency Arrangement;
(b) refunds received from a creditor, the personal insolvency practitioner or, as applicable, the bank for the credit of the relevant debtor, in order to correct any error in making the payments referred to at (d), (e) or (f) below and in reversing the payments referred to at (g) below;
(c) bank interest, where appropriate;
Debits (outward payments)
(d) disbursements on behalf of the debtor to a creditor according to his or her entitlement under the Debt Settlement Arrangement or, as applicable, the Personal Insolvency Arrangement;
(e) fees, charges and other outlays due to the personal insolvency practitioner under the Act and Regulations made pursuant to the Act and in accordance with the Debt Settlement Arrangement or, as applicable, the Personal Insolvency Arrangement and for which the personal insolvency practitioner has adequate documentary proof that the fees are properly due at the time of withdrawal;
(f) bank charges, where appropriate;
(g) moneys that have been transferred into the DSA account or, as applicable, the PIA account in error for which the personal insolvency practitioner has adequate documentary proof demonstrating such error.
4. A DSA account or a PIA account may never be overdrawn.
5. A personal insolvency practitioner shall ensure that funds held in a DSA account or PIA account are insulated against and not subject to claims of creditors of the personal insolvency practitioner.
6. A personal insolvency practitioner shall, with respect to his or her practice as a personal insolvency practitioner:
(a) keep such accounting records as are adequate to enable him or her at any time and without delay to distinguish funds held for one debtor or creditor from funds held for any other debtor or creditor and from the funds of the personal insolvency practitioner or any other person; and
(b) maintain accounting records in such a way that ensures their accuracy and completeness and their independence from those of other practices or businesses in which the personal insolvency practitioner is engaged in another capacity and the practices or businesses of any person, with whom that personal insolvency practitioner is connected with in any practice or business;
(c) conduct, on a regular basis, reconciliations between his or her internal accounting records and those of the bank with whom the account(s) is held;
(d) notify the Insolvency Service of Ireland within one business day, in writing, of differences identified during a reconciliation referred to at (c) above that are material or recurrent in nature;
(e) ensure that the relevant bank is notified in writing on the establishment of each DSA account or PIA account that funds credited to the account do not form assets of the personal insolvency practitioner and for so long as the DSA account or PIA account remains open, ensure that the designation on all such accounts in the personal insolvency practitioner’s accounting records sufficiently distinguishes the funds held in those accounts from funds belonging to the personal insolvency practitioner or other persons other than the relevant debtor.
7. (1) A personal insolvency practitioner shall carry out a reconciliation of his or her internal records of amounts held in each DSA account and PIA account with the most recent statement issued or information provided by the relevant bank relating to the balances on such account at a frequency that ensures that the personal insolvency practitioner is fully aware of any discrepancies between the records of the bank and those of the personal insolvency practitioner. Where differences other than timing differences are identified they shall be corrected as soon as possible.
(2) A personal insolvency practitioner shall keep an accurate record of each reconciliation carried out for the purposes of Regulation 6(c) and Regulation 7(1).
(3) A personal insolvency practitioner shall, for the purposes of Regulation 6(c) and Regulation 7(1), notify the Insolvency Service of Ireland immediately, in writing, where he or she has been unable or has failed to perform a reconciliation with the necessary frequency and shall provide an explanation of the inability or failure to conduct the reconciliation.
Receipts and Statements
8. (1) A personal insolvency practitioner shall issue a receipt to each debtor for all moneys received from or on behalf of the debtor. The receipt shall include at least the following:
(a) the name of the debtor;
(b) the name of the personal insolvency practitioner;
(c) the amount of the payment and the date it was received; and
(d) the type of the insolvency arrangement (being a Debt Settlement Arrangement or Personal Insolvency Arrangement) to which the payment applies.
(2) At least once every year a personal insolvency practitioner shall issue a written statement to a debtor detailing since the beginning of the relevant insolvency arrangement or, if later, the most recent statement for the purposes of this Regulation sent to the debtor:
(a) all moneys received from the debtor and the date on which they were received;
(b) the names of and the amounts paid to each creditor;
(c) the amount of fees, charges and other outlays deducted by the personal insolvency practitioner;
(d) confirmation that the payments received and made by the personal insolvency practitioner are in accordance with the terms of the Debt Settlement Arrangement or, as applicable, the Personal Insolvency Agreement and where this is not the case the amount of and reason for any shortfall or overpayment; and
(e) the name of the personal insolvency practitioner.
Accounting Records
9. (1) A personal insolvency practitioner shall, on a constant basis, maintain proper records and books of account pertaining to his or her role as a personal insolvency practitioner and for each Debt Settlement Arrangement or, as applicable, Personal Insolvency Arrangement under which he or she acts as a personal insolvency practitioner.
(2) The accounting records maintained by a personal insolvency practitioner shall be such as to permit the Insolvency Service of Ireland or any accountant or other person qualified to read or prepare accounts or financial records to readily understand:
(a) the receipts, payments and transactions with respect to each Debt Settlement Arrangement or, as applicable, Personal Insolvency Arrangement for which he or she acts as a personal insolvency practitioner, including, without limitation to the generality of the foregoing, the following information:
(i) details of all transactions representing all payments received into or disbursed from each DSA account and PIA account;
(ii) copies of all payment instructions to the bank where the DSA account(s) or PIA account(s) is or are held;
(iii) a record of all income and expenditure of the personal insolvency practitioner in respect of each Debt Settlement Arrangement or, as applicable, each Personal Insolvency Arrangement with an explanation of its nature; and
(b) all assets, liabilities, income and expenditure of the business of the personal insolvency practitioner.
(3) A personal insolvency practitioner must maintain the accounting records in such a way that ensures their accuracy, integrity and ready access for his or her accountant, the Insolvency Service of Ireland or any person nominated by the Insolvency Service of Ireland.
(4) The accounting records shall be maintained for a minimum period of six years (in the case of those relating to a Debt Settlement Arrangement or a Personal Insolvency Arrangement commencing after the completion or termination of the relevant insolvency arrangement) in a secure location and made available to the Insolvency Service of Ireland or any person nominated in writing by the Insolvency Service of Ireland in exercise of its functions.
(5) At least once each year, a personal insolvency practitioner shall verify, in writing, to the Insolvency Service of Ireland that he or she holds and maintains accounting records in accordance with the requirements of these Regulations.
Financial Statements and Reports
10. (1) A personal insolvency practitioner shall, on an annual basis and within six months of the financial year end, prepare financial statements or management accounts (if applicable) in respect of his or her practice as a personal insolvency practitioner. The financial statements shall include an income and expenditure statement and a balance sheet or capital account statement.
(2) If requested by the Insolvency Service of Ireland a personal insolvency practitioner shall engage an independent accountant or auditor to prepare a report confirming:
(a) the accuracy of the financial statements prepared by the personal insolvency practitioner under Regulation 10(1) above; and
(b) the compliance by the personal insolvency practitioner with the provisions of Regulations 3, 4, 5, 6 and 7 above.
(3) The financial statements and the report of the appointed auditor shall be submitted to the Insolvency Service of Ireland on request from or within a timeframe specified by the Insolvency Service of Ireland.
Enforcement
11. (1) The Insolvency Service of Ireland will monitor compliance by personal insolvency practitioners with these Regulations by means of:
(a) analysis and assessment of returns and information supplied by a personal insolvency practitioner to the Insolvency Service of Ireland;
(b) review of the controls and arrangements in place by a personal insolvency practitioner to safeguard funds received from or on behalf of debtors or held to the credit of debtors, records held in relation to receipts and statements issued to debtors by a personal insolvency practitioner and accounting records maintained by a personal insolvency practitioner pertaining to his or her role as a personal insolvency practitioner;
(c) assessment of publicly available information about a personal insolvency practitioner; or
(d) a combination of the above.
(2) In cases where evidence of non-compliance with these Regulations comes to the attention of the Insolvency Service of Ireland, the Insolvency Service of Ireland may carry out an enquiry or appoint an inspector under the Act to investigate the personal insolvency practitioner or take such other action as the Insolvency Service of Ireland considers necessary as provided for or permitted by the Act.
(3) The Insolvency Service of Ireland may charge a fee to the personal insolvency practitioner in respect of any enquiry or investigation referred to in Regulation 11(2) that does not exceed the cost of conducting that enquiry or, as applicable, investigation.
(4) Where the Insolvency Service of Ireland has reason to believe or suspects that the financial circumstances of a personal insolvency practitioner are such that could affect his or her capacity to carry out the functions of a personal insolvency practitioner the Insolvency Service of Ireland may conduct an examination of the financial circumstances of the personal insolvency practitioner in accordance with the Act.
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GIVEN under the seal of the Insolvency Service of Ireland,
8 July 2013.
LORCAN O’CONNOR,
Director of the Insolvency Service of Ireland.
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CATHY CLARKE,
A Member of the Staff of the Insolvency Service of Ireland Authorised by the Director of the Insolvency Service of Ireland to Authenticate the Seal of the Insolvency Service of Ireland.
EXPLANATORY NOTE
(This note is not part of the Instrument and does not purport to be a legal interpretation.)
These regulations set out the requirements applying to a personal insolvency practitioner in the keeping and preservation of accounts and records and other related matters.
S.I. No. 319/2014 –
Personal Insolvency Act 2012 (Regulatory Disclosure Statement of a Personal Insolvency Practitioner) Regulations 2014.
The Insolvency Service of Ireland, in exercise of the powers conferred on it by section 3 and section 161 (as amended by section 94 of the Civil Law and Courts (Miscellaneous Provisions) Act (No. 32 of 2013)) of the Personal Insolvency Act 2012 (No. 44 of 2012), with the consent of the Minister for Justice and Equality and following consultation with the Minister for Finance, hereby makes the following regulations:
Citation and Purpose
1. (1) These Regulations may be cited as the Personal Insolvency Act 2012 (Regulatory Disclosure Statement of a Personal Insolvency Practitioner) Regulations 2014.
(2) These Regulations are made for the purposes of section 161 of the Act.
Interpretation
2. In these Regulations, the “Act” means the Personal Insolvency Act 2012 (No. 44 of 2012).
Scope
3. These Regulations apply to personal insolvency practitioners authorised under section 164 of the Act.
Regulatory Disclosure Statement
4. (1) A personal insolvency practitioner shall ensure that the following form of regulatory disclosure statement (the “regulatory disclosure statement”):
“[name of the personal insolvency practitioner as contained in the Register of Personal Insolvency Practitioners maintained under section 162 of the Act] is authorised by the Insolvency Service of Ireland to carry on practice as a personal insolvency practitioner.”
is used in each of the following:
(a) the personal insolvency practitioner’s business stationery,
(b) electronic communications (excluding text messages sent by means of a short message service (SMS) facility) made by or on behalf of the personal insolvency practitioner,
(c) advertisements made by or on behalf of the personal insolvency practitioner,
(d) marketing materials disseminated by or on behalf of the personal insolvency practitioner,
(e) social media and social networking sites maintained by or on behalf of the personal insolvency practitioner, and
(f) any website maintained by or on behalf of the personal insolvency practitioner,
in connection with his or her practice as a personal insolvency practitioner.
(2) A personal insolvency practitioner shall ensure that the regulatory disclosure statement is not presented in a manner that could appear to be an endorsement by the Insolvency Service of the personal insolvency practitioner or of his or her activities as a personal insolvency practitioner.
The Minister for Justice and Equality consents to the making of the foregoing Regulations.
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GIVEN under the Official Seal of the Minister for Justice and Equality,
3 July 2014.
FRANCES FITZGERALD,
Minister for Justice and Equality.
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GIVEN under the seal of the Insolvency Service of Ireland,
9 July 2014.
LORCAN O CONNOR,
Director of the Insolvency Service of Ireland.
S.I. No. 226/2016 –
Personal Insolvency Act 2012 (Renewal of Authorisation of Personal Insolvency Practitioners) Regulations 2016.
“Iris Oifigiúil” of 10th May, 2016.
The Insolvency Service of Ireland, in exercise of the powers conferred on it under section 3 and section 161 (as amended by section 94 of the Courts and Civil Law (Miscellaneous Provisions) Act 2013 (No. 32 of 2013)) of the Personal Insolvency Act 2012 (No. 44 of 2012), with the consent of the Minister for Justice and Equality and following consultation with the Minister for Finance hereby makes the following regulations:
Citation and Purpose
1. (1) These Regulations may be cited as the Personal Insolvency Act 2012 (Renewal of Authorisation of Personal Insolvency Practitioners) Regulations 2016.
(2) These Regulations are made for the purposes of section 161 and section 166 of the Act.
Scope
2. These Regulations apply to individuals who hold an authorisation to carry on practice as a personal insolvency practitioner and who wish to renew that authorisation.
Definitions
3. In these Regulations:
“Act” means the Personal Insolvency Act 2012 (No. 44 of 2012);
“accountant’s report” means a report in the prescribed form by a duly qualified accountant that appropriate financial systems and controls are still in place for the protection of moneys received from debtors by the applicant;
“applicant” means a personal insolvency practitioner applying for the renewal of his or her authorisation to carry on the practice as a personal insolvency practitioner;
“renewal of an authorisation” means renewal of an authorisation to carry on practice as a personal insolvency practitioner.
Renewal of an Authorisation
4. (1) The application form set out in the Schedule to these Regulations is hereby prescribed for the purposes of section 166(2)(a) of the Act.
(2) The accountant’s report as set out in Part G of the prescribed application form is hereby prescribed for the purposes of section 166(4)(b) of the Act.
(3) An applicant shall take all reasonable steps to ensure that the information provided in support of his or her application for renewal of an authorisation is accurate and complete.
(4) At any time before the renewal of an authorisation, or refusal to renew such an authorisation, the Insolvency Service may request the applicant to clarify the information provided or to supply further information in respect of the applicant’s character, competence or financial position or may make such enquiries as may be necessary for the purpose of evaluating the application properly and comprehensively.
(5) Failure by an applicant to comply with Regulation 4(3) or a request made pursuant to Regulation 4(4) will be taken into account by the Insolvency Service when determining an application for renewal of an authorisation and may be regarded as a reason to refuse to renew that applicant’s authorisation.
SCHEDULE
APPLICATION TO THE INSOLVENCY SERVICE OF IRELAND FOR THE RENEWAL OF AN AUTHORISATION TO CARRY ON PRACTICE AS A PERSONAL INSOLVENCY PRACTITIONER
Part A — Details of Applicant
1. Full Name
2. Trading Name or Business Name (if different to the above)
3. Address of your place of Business
4. Personal Insolvency Practitioner Authorisation Number
Part B — Professional Status
1. Please tick the appropriate professional status / qualification which applies to you:
(a) I am a solicitor in respect of whom a practising certificate (within the meaning of the Solicitors Acts 1954 to 2015) is in force. □
(b) I am a barrister at law called to the Bar of Ireland. □
(c) I am a qualified accountant and a member of a prescribed accountancy body (within the meaning of section 4 of the Companies (Auditing and Accounting) Act 2003 ). □
(d) I am a qualified financial advisor who holds a current qualification from the Life Insurance Association of Ireland (LIA), the Insurance Institute or the Bankers School of Professional Finance. □
(e) I hold a qualification in either law, business, finance or other appropriate similar qualification to the satisfaction of the Insolvency Service of Ireland recognised to at least level 7 of the National Qualifications Framework by Quality and Qualifications Ireland (or equivalent). □
If your professional status has changed since your authorisation to carry on practice as a personal insolvency practitioner, please provide details:
2. The following questions must be answered and apply to conduct in this jurisdiction and any other jurisdiction (please tick as appropriate). If the answer to any of the following questions is YES, you are required to provide full details in writing with your application.
Yes
No
(a) Has your entitlement to carry on practice as a personal insolvency practitioner since the last application made by you been suspended or subject to conditions?
□
□
(b) Since you were last authorised as a personal insolvency practitioner have you, in any jurisdiction:
□
(i) Failed to comply with the Personal Insolvency Acts 2012 to 2015, or with any regulations made under those Acts?
□
□
(ii) Been convicted of any offence involving fraud, dishonesty, breach of trust, tax offences or of aiding and abetting tax evasion, including any conviction related to financial crime or breach of statutory or regulatory requirements?
□
□
(iii) Been a director or manager of an entity or business that was, during your period as a director or manager, convicted of an offence involving fraud, dishonesty, breach of trust, tax offences or of aiding and abetting tax evasion, including any conviction related to financial crime or breach of statutory or regulatory requirements?
□
□
(iv) Been adjudicated bankrupt, or entered into any compromise with your creditors related to bankruptcy or insolvency or are you currently the subject of bankruptcy or insolvency related proceedings or measures or are you aware of any such proceedings or measures pending?
□
□
(v) Failed to satisfy a judgment debt under a court order within one year of the making of the order?
□
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(vi) Been disqualified or restricted, by a court from acting as a director of a company or equivalent, or from acting in the management or conduct of the affairs or control of any company, partnership, or unincorporated association?
□
□
(vii) Been refused entry to any profession or been dismissed or compelled to resign from any office or position of trust, whether or not remunerated?
□
□
(viii) Been prohibited, suspended, refused or restricted in the right, to carry on any trade, business or profession for which a specific licence, registration or other authority is required?
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(ix) Been the director or equivalent of an entity, which has gone into liquidation, receivership or examinership or similar or analogous measures or steps in any other country and, in such circumstances, entered into any arrangements with its creditors which gave rise to a loss to the creditors either while you were a director or equivalent or within one year of your ceasing to be a director or equivalent?
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(x) Been associated, as a director, manager or shareholder, with any entity that has been compulsorily wound up or equivalent, either while you were associated with it or within one year after you ceased to be associated with it?
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(xi) Been concerned with the management, conduct of affairs or control of any entity that, by reason of any matters relating to a time when you were so concerned, has been censured, disciplined, restricted, sanctioned, fined, convicted or publicly criticised, by any enquiry, by any government, judicial or statutory authority, by any professional body?
□
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(xii) Been concerned with the management, conduct of affairs, or control of any entity which applied for regulatory approval in respect of any business and, by reason of any matter relating to a time when you were so concerned, was refused the application or had the approval subsequently withdrawn, suspended or restricted?
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Part C — Business Information
Since your authorisation to carry on practice as a personal insolvency practitioner, are you engaging or do you intend to engage in any other forms of business of which you have NOT previously advised the Insolvency Service of Ireland?
Yes No
□ □
If the answer is YES, please provide details of the other business areas. To the extent that any such other business areas could give rise to a conflict of interest, be open to abuse or conflict with a personal insolvency practitioner’s confidentiality obligations and functions under the Personal Insolvency Acts 2012 to 2015, please provide details of how such business areas are appropriately segregated from your role as a personal insolvency practitioner.
Please confirm that your resources (including financial capacity), policies, procedures, systems and controls necessary to comply with your obligations under the Act and regulations made under the Act remain adequate and in place.
Confirmed □ Not Confirmed □
Part D — Professional Indemnity Requirements
Please note that it is a mandatory requirement, set out in section 171 of the Personal Insolvency Act 2012 , that all personal insolvency practitioners hold a policy of professional indemnity insurance (“PII”). Regulation 6 of the Personal Insolvency Act 2012 (Authorisation and Supervision of Personal Insolvency Practitioners) Regulations 2013 ( S.I. No. 209 of 2013 ) sets out the requirements prescribed by the Insolvency Service of Ireland in relation to PII.
Please also note that section 166(4)(c) of the Personal Insolvency Act 2012 requires the Insolvency Service of Ireland, subject to section 167 of that Act, to refuse to renew an authorisation to carry on practice as a personal insolvency practitioner if the applicant does not satisfy the Insolvency Service of Ireland that there is available to the applicant the required level of PII.
PII cover
Indicate what PII cover you maintain in respect of your authorisation to carry on practice as a personal insolvency practitioner.
Excess Amount
Per Claim Cover
Aggregate Cover
Effective date of PII cover:
Expiry date of PII cover:
Name of insurer:
Number of the policy that includes your PII cover:
You must provide written evidence (copy of policy or similar) from the relevant insurer that the PII covers your practice as a personal insolvency practitioner and meets the level of cover specified in Regulation 6 of the Personal Insolvency Act 2012 (Authorisation and Supervision of Personal Insolvency Practitioners) Regulations 2013.
Part E — Tax Clearance Requirements
Tax Clearance
For the purpose of the Insolvency Service of Ireland determining your application for renewal of authorisation, please provide your Tax Clearance Access Number and Tax Reference Number. These numbers will be used by the Insolvency Service of Ireland to verify your tax clearance.
Tax Clearance Access Number:______________
Tax Reference Number:______________
Part F– Personal Insolvency Practitioner Declaration
I, ______________, (insert your name) apply under section 166 of the Personal Insolvency Act 2012 for the renewal of my authorisation to carry on practice as a personal insolvency practitioner on the basis of information supplied on this form and any additional information supplied to the Insolvency Service of Ireland in connection with this application.
I acknowledge that the Insolvency Service of Ireland may process and disclose such information in the performance of its statutory functions or otherwise as may be required or permitted by law.
I warrant that I have truthfully and fully answered the relevant questions in this application and disclosed any other information which might reasonably be considered relevant for the purpose of this application.
I am aware that it may be grounds for refusal of my application or grounds for revocation of my authorisation to carry on practice as a personal insolvency practitioner to knowingly or recklessly:
a. provide false or misleading information or to make a false or misleading statement (which I acknowledge may include the withholding by me of relevant information) in this application for renewal or;
b. fail to inform or withhold from the Insolvency Service of Ireland details of any material change in circumstances or new information which is relevant or material to this application.
I undertake that I will promptly notify the Insolvency Service of Ireland of any changes in the information I have provided and supply any other relevant information, which may come to light in the period during which the application is being considered and, if this application is accepted, thereafter.
I confirm that I am not an undischarged bankrupt.
I confirm that I shall undertake continuing professional development which is relevant to my practice as a personal insolvency practitioner in such manner as may be specified by the Insolvency Service of Ireland from time to time.
I am aware of the provisions of the Personal Insolvency Acts 2012 to 2015 and reasonably believe that I can meet the requirements of those Acts and the Regulations made under them.
Signed: ______________
Print Name: ______________
Dated: ______________
Part G — Accountant’s Report to the Insolvency Service of Ireland: Renewal of Personal Insolvency Practitioner Authorisation
Pursuant to section 166(4)(b) of the Personal Insolvency Act 2012 , an application to renew authorisation to carry on practice as a personal insolvency practitioner must be accompanied by a report in the below prescribed form by a duly qualified accountant confirming that the appropriate financial systems and controls are still in place for the protection of moneys received from debtors.
Please note Section 2 of this report is to be completed by a qualified accountant who is a member of a recognised accountancy body within the meaning of the European Communities (Statutory Audits) (Directive 2006/43/EC) Regulations 2010 ( S.I. No. 220 of 2010 ) and holds a valid practising certificate.
To: The Insolvency Service of Ireland
Accountant’s Report: Renewal of Personal Practitioner Insolvency Authorisation
PART G, SECTION I — Applicant’s Declaration
1. ______________ [Full name of the applicant]
2. ______________ [Applicant address]
3. ______________ [Applicant personal insolvency practitioner authorisation number]
I, ______________ [Applicant name], am aware that appropriate financial systems and controls are required to be in place for the protection of moneys received from debtors.
I acknowledge the requirement—
(a) that there is in place a written procedure that establishes clear accountability for the handling of funds, which ensures that receipt of funds from debtors is properly accounted for, are protected, and the funds are identifiable to specific debtors;
(b) that there is a written procedure to ensure that all cheques and other negotiable instruments are promptly endorsed and a follow-up system has been established to ensure that post-dated cheques are always deposited on the date of the cheque or within appropriate time frames;
(c) that appropriate experienced personnel are engaged to monitor, on a constant basis, funds received versus funds due and payments made and they have the ability to investigate and resolve any differences that arise;
(d) that the duties of collecting or receiving funds, maintaining documentation, making deposits or payments and reconciling records is distributed between two or more appropriate experienced individuals.
I hereby declare that appropriate financial systems and controls, as set out in matters (a) to (d) above, are in place for the protection of moneys received from debtors.
Signed:
Print Name:
Dated:
PART G, SECTION II — Accountant’s Declaration
This report is given for the purposes of section 166(4)(b) of the Personal Insolvency Act, 2012.
______________ [Name of accountant], a qualified accountant who is a member of a recognised accountancy body within the meaning of the European Communities (Statutory Audits) (Directive 2006/43/EC) Regulations 2010 ( S.I. No. 220 of 2010 ) and holds a valid practising certificate, has examined the above declaration and matters (a) to (d) above and supporting documentation in respect of matters (a) to (d).
The applicant is responsible for making an application for renewal of an authorisation to carry on practice as a personal insolvency practitioner that is correct in all material particulars.
The applicant is also responsible for operating effective and appropriate financial systems and controls for the protection of moneys received from debtors. An appropriate framework of financial systems and controls provides reasonable, but not absolute, assurance that the moneys received from debtors are protected.
My responsibility is to examine the declaration and the supporting evidence; and to express an opinion as to whether the applicant has in place appropriate financial systems and controls as set out in matters (a) to (d) in the above declaration.
In my opinion, based on my examination, the applicant has [on the basis of representations made to me by the applicant,]* in place appropriate financial systems and controls, as set out in (a) to (d) above for the protection of moneys received from debtors during the course of providing personal insolvency services under the Personal Insolvency Acts 2012 to 2015.
I have received all the explanations and information I require to form my opinion.
Signed: ______________ Date: ______________
Accountant
Particulars of accountant
Firm’s Name:
Firm’s Address:
Accountancy body of which a member:
Membership Number:
*Delete where inapplicable
Note for applicant:
Please note that the application will only be processed once this report is complete and received.
Part H — Application Process and Checklist
The completed application form and accompanying documents (set out in the checklist below) must be submitted to the Insolvency Service of Ireland in such manner as may be specified by the Insolvency Service of Ireland from time to time.
The application form must be accompanied by the prescribed fee. The fee is payable to the Insolvency Service of Ireland in such manner as may be specified by the Insolvency Service of Ireland from time to time.
In accordance with section 166(2)(b) of the Personal Insolvency Act 2012 , an application for renewal of an authorisation to carry on practice as a personal insolvency practitioner must be made at least 6 weeks before the expiration of the authorisation.
The Insolvency Service of Ireland will NOT commence the processing of any application for renewal of authorisation if it is not complete in all respects. Applications will be treated as incomplete unless all questions raised in the application form are fully answered and all applicable supporting documentation (as outlined in the checklist below) has been received by the Insolvency Service of Ireland. Incomplete applications may be returned to you as invalid. An application that has to be re-submitted will be treated as a new application.
Applicant
ISI USE ONLY
Completed Application Form (signed and all questions answered)
PII Cover (Part D)Written evidence of PII cover (copy of policy or similar)
Tax Clearance Requirements (Part E)Tax Clearance Access Number and Tax Reference Number
Signed Declaration (Part F)
Completed Accountant’s Report (Part G)
Prescribed Fee
The Minister for Justice and Equality consents to the making of the foregoing Regulations.
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GIVEN under the Official Seal of the Minister for Justice andEquality,
5 May 2016.
FRANCES FITZGERALD,
Minister for Justice and Equality.
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GIVEN under the seal of the Insolvency Service of Ireland,
5 May 2016.
LORCAN O’CONNOR,
Director of the Insolvency Service of Ireland.
EXPLANATORY NOTE
(This note is not part of the Instrument and does not purport to be a legal interpretation.)
These regulations set the renewal of authorisation requirements and regulatory standards which must be met for an individual to renew his or her authorisation by the Insolvency Service of Ireland to carry on the practice of a personal insolvency practitioner together with the prescribed application form to be completed by applicants, including the prescribed accountant’s report.
S.I. No. 331/2013 –
Personal Insolvency Act 2012 (Prescribed Protective Certificate Personal Insolvency Arrangement Application Form) Regulations 2013.
The Insolvency Service of Ireland, in exercise of the powers conferred on it by section 3 of the Personal Insolvency Act 2012 (No. 44 of 2012) (the “Act”), hereby makes the following regulations:
1. These Regulations may be cited as the Personal Insolvency Act 2012 (Prescribed Protective Certificate Personal Insolvency Arrangement Application Form) Regulations 2013.
2. The form set out in the Schedule to these Regulations is hereby prescribed for the purposes of section 93(2) of the Act.
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Schedule
APPLICATION FOR PROTECTIVE CERTIFICATE
(PERSONAL INSOLVENCY ARRANGEMENT)
*AN CHÚIRT CHUARDA
*[THE CIRCUIT COURT] *[THE HIGH COURT]
*THE PERSONAL INSOLVENCY ACT 2012
*[….] CIRCUIT *COUNTY OF [….]
IN THE MATTER OF AN APPLICATION UNDER SECTION 95 OF THE PERSONAL INSOLVENCY ACT 2012
AND IN THE MATTER OF […………………………………………………………..]OF […………………………………………………………..],
A DEBTOR
*I/*We ………………………………………………………………………………………………..
of …………………………………………………………………………………………………………………
County of …………………………………………………………………………………………………….
* and ……………………………………………………………………………………………………………..
of ………………………………………………………………………………………………………………..
County of ………………………………………………………………………………………………….
HEREBY APPLY for the making of an order for the issue under section 95 (2)(a) of the Personal Insolvency Act 2012 of a protective certificate.
Dated …………. 20 ……..
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Important Information and Statements
1. Unless otherwise defined in this application form, terms used herein have the same meaning as under the Personal Insolvency Act 2012 (the “Act”).
2. This application form has been prescribed by the Insolvency Service for the purposes of Section 93(2) of the Act.
3. The Insolvency Service may request any further information it requires from a debtor (the “Debtor”), or personal insolvency practitioner and defer further consideration of the application until such information is furnished to the Insolvency Service. Failure to furnish such information, within 14 days or such longer period as the Insolvency Service may (at its discretion) permit, will mean that the application shall be deemed to have been withdrawn.
4. Where the personal insolvency practitioner becomes aware of any inaccuracy or omission in this application or any document accompanying this application, he or she is required under section 93(4) of the Act to inform the Insolvency Service of this fact as soon as practicable.
5. The Insolvency Service hereby agrees to the Debtor communicating with the Insolvency Service by electronic means for the purposes of any communication or notice required or permitted to be sent or given by the Debtor to the Insolvency Service, from time to time, in connection with this Act including for the purpose of any notice referred to in section 134 of the Act. Any such communication or notice should be sent to pia@isi.gov.ie.
6. Notwithstanding any agreement by the Debtor to receiving electronic communications and notices, there may be circumstances in which the Insolvency Service will send documents, information and other communications to the Debtor in hard copy rather than electronically, in which case the Insolvency Service reserves the right to do so, including for the purpose of giving the Debtor any notice referred to in section 134 of the Act.
7. This application may be withdrawn at any time prior to the issue of a protective certificate in accordance with section 93(3) of the Act.
8. This application shall be accompanied by the appropriate fee and the following documentation:
(a) a statement of the personal insolvency practitioner prepared under section 54 of the Act;
(b) the Debtor’s signed confirmation that he or she satisfies the eligibility criteria specified in section 91 of the Act;
(c) the declaration in writing of the Debtor referred to in section 91(1)(g) of the Act or in the alternative, the personal insolvency practitioner’s written confirmation as referred to in section 91(2) of the Act;
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(d) the Prescribed Financial Statement;
(e) the statutory declaration of the Debtor referred to in section 91(1)(e) of the Act;
(f) a schedule of creditors of the Debtor and the debts concerned, stating in relation to each such creditor the information specified in section 93(2)(e) of the Act;
(g) the Debtor’s written consent to the disclosure and processing of his or her personal data of the Debtor as specified in section 93(2)(f) of the Act;
(h) the Debtor’s written consent to the making of any enquiry under section 94 of the Act relating to the Debtor by the Insolvency Service;
(i) such other documentation as may be requested in this application.
ISI Case Reference No.:
Application Form
APPLICATION QUESTIONS
Is this an individual application or a joint application?If this is a joint application each Debtor must complete the “Debtor’s Details” sections.
Individual Joint
If an individual application, is it proposed that this application will be administered in common with one or more other Personal Insolvency Arrangements pursuant to Section 89 (4) of the Personal Insolvency Act 2012 ? If yes, provide ISI case reference number(s) for the relevant arrangement(s).
Yes No Case Reference No(s).:
Are the total liabilities of the Debtor as determined on the basis of the Prescribed Financial Statement completed by the Debtor in respect of this application in excess of €2,500,000?
Yes No
Has 25% or more of the Debtor’s debts (other than excluded debts) been incurred during the period of 6 months ending on the date of this application?
Yes No
Is the aggregate of the debts of the Debtor which are secured debts less than €3,000,000?
Yes No
If no, have all of the creditors who are secured creditors consented in writing so that the limit of €3,000,000 shall not apply?If yes, please provide a copy of the consent with this application.
Yes No
Is at least one of the creditors of the Debtor a secured creditor holding security over an interest in property (real or personal) of the Debtor situate in the State?
Yes No
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(DEBTOR’S DETAILS sections to be completed by all debtors in the case of a joint application)
DEBTOR’S DETAILS — Initial Information
Has the Debtor received advice from the personal insolvency practitioner on the matters set out in section 52 of the Act?
Yes No
Was the advice referred to in section 52(1)(c) of the Act confirmed in writing by the personal insolvency practitioner to the Debtor?
Yes No
Has the Debtor instructed the personal insolvency practitioner in writing to make a proposal for a Personal Insolvency Arrangement in accordance with Chapter 4 of the Act?
Yes No
Does the Debtor agree to receiving by electronic means communications or notices required or permitted to be sent or given to the Debtor by the Insolvency Service from time to time in connection with the Act or related rules of court?Electronic communications or notices will be sent to the Debtor’s email address provided in this application form.
Yes No
The Courts Service may wish to communicate with the Debtor, from time to time, by electronic means in connection with the Act or related rules of court. If such circumstances arise, does the Debtor agree to receiving by electronic means communications or notices required or permitted to be sent or given to the Debtor by the Courts Service in connection with the Act or related rules of court?Electronic communications or notices will be sent to the Debtor’s email address and/or mobile telephone number provided in this application form.
Yes No
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DEBTOR’S DETAILS — Personal Details
Surname:
First name:
Name as it appears on birth certificate:
Is the Debtor or has the Debtor been known by any other name? If yes, please supply name(s):
Yes No Name(s):
Title:*
Mr Mrs Miss Ms Other (please specify)
Gender:*
Male Female Other
PPS number:
Date of birth:
Country of birth:
Nationality:
Current Marital Status:*
Single (never married) Married (first marriage, no previous annulment) Married (following previous annulment) Re-married (following death of spouse) Re-married (following divorce/annulment) Civil partnership Separated Divorced Widow/Widower
Current Address:
Home telephone number:
Mobile telephone number:
Email address:
ISI Case Reference No.:
DEBTOR’S DETAILS — Previous Addresses
Has the Debtor had any previous addresses in the last 5 years? If yes, please supply address(es):
Yes No Address(es):Start date and end date:
DEBTOR’S DETAILS — Employment Status
What is the Debtor’s current employment status?*
Employed Self-employed/Trading Unemployed Retired Student Housewife/husband Other (please specify)
If “Employed” is chosen the following questions must be answered:
Occupation:
Name of employer:
Address of employer:
Length of Service with employer:Please specify in years and months.
If “Self-employed/Trading” is chosen the following questions must be answered:
Occupation:
Type of Business:
Trading/Business Name:
Address of Business:
Was/Is the business registered for VAT?If yes, please supply VAT number.
Yes No VAT number:
Is the Debtor a sole trader?If not, what is the percentage of the Debtor’s ownership of the business?
Yes No Percentage:
When did the business start trading?Please specify a year and a month.
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DEBTOR’S DETAILS — Previous Businesses
Has the Debtor ever carried on a business, other than that referred to in the Employment Status section above, under a trading/business name or any other name other than the Debtor’s current name?If yes, please supply all previous name(s) and address(es)
Yes No Name(s) and Address(es):Start date and end date:
DEBTOR’S DETAILS — Insolvency Status
Is the Debtor an undischarged bankrupt?
Yes No
Is the Debtor a discharged bankrupt subject to a bankruptcy payment order?
Yes No
Is the Debtor a person who is a specified debtor as respects a Debt Relief Notice which is in effect?
Yes No
Is the Debtor a person who, as a debtor, is subject to a Debt Settlement Arrangement which is in effect?
Yes No
Is the Debtor a person who, as a debtor, is subject to an arrangement under the control of the court under Part IV of the Bankruptcy Act 1988 ?
Yes No
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DEBTOR’S DETAILS — Prior Insolvency Processes
Has the Debtor been the subject of a protective certificate issued under section 95 of the Act less than 12 months prior to the date of this application?
Yes No
Has the Debtor had his or her debts discharged pursuant to a final Debt Relief Notice less than 3 years prior to the date of this application?
Yes No
Has the Debtor had his or her debts discharged pursuant to a Debt Settlement Arrangement less than 5 years prior to the date of this application?
Yes No
Has the Debtor been discharged from bankruptcy less than 5 years prior to the date of this application?
Yes No
Has the appropriate court made an order referred to in section 91(3) of the Act stating that it is satisfied that the current insolvency of the Debtor arises by reason of exceptional circumstances or other factors which are substantially outside the control of the Debtor and that it would be just to permit the Debtor to make a proposal for a Personal Insolvency Arrangement? If yes, please provide a copy of the order with this application. Only to be answered if any of the previous four questions are answered in the positive.
Yes No
Has the Debtor ever entered into a Personal Insolvency Arrangement?
Yes No
DEBTOR’S DETAILS — Other Eligibility Criteria
Is the Debtor domiciled in the State, or within one year before the date of this application, has the Debtor ordinarily—(i) resided in the State, or (ii) had a place of business in the State?*
Yes No Domiciled Resided Business
Is the Debtor insolvent within the meaning of the Act?
Yes No
ISI Case Reference No.:
REASONABLE LIVING EXPENSES (RLE)
For the purposes of calculating the monthly total set costs under the guidelines on a reasonable standard of living and reasonable living expenses issued under Section 23 of the Act (the “Reasonable Living Expenses Guidelines”), is this a one adult household or a two adult household?*
One adult household Two adult household
Does the Debtor have any dependent children (under 19 years of age) living with him or her?If yes, complete — Reasonable Living Expenses — Children.
Yes No
Does the Debtor own a motor vehicle?
Yes No
If yes, does the Debtor require a motor vehicle?
Yes No
The monthly total set costs under the Reasonable Living Expenses Guidelines for the Debtor’s typical household are:
€
Does the Debtor have any childcare costs? If yes, please give the monthly expenditure amount assessed to be reasonable by the personal insolvency practitioner in accordance with the Reasonable Living Expenses Guidelines.
Yes No Monthly amount: €
How much is the Debtor’s monthly rent, mortgage repayment or other accommodation costs assessed to be reasonable by the personal insolvency practitioner in accordance with the Reasonable Living Expenses Guidelines?
€
Does the Debtor have any expenditure in relation to special circumstances, which is required to be taken into account when calculating his or her reasonable living expenses? If yes, complete — Reasonable Living Expenses — Special Circumstances.
Yes No
In the case of a two adult household, has the Debtor rebutted the presumption of an equal split of the reasonable living expenses between them?
Yes No
What percentage of the Debtor’s household reasonable living expenses should be attributed to the Debtor?
Percentage:
The Debtor’s reasonable living expenses are:
€
ISI Case Reference No.:
REASONABLE LIVING EXPENSES — Children
For the purposes of calculating the Debtor’s reasonable living expenses under the Reasonable Living Expenses Guidelines, which of the following age categories does the Debtor’s child(ren) fall into?*
Infant (0-2) Pre-school (3) Primary school (4-11) Secondary school (12-18)
REASONABLE LIVING EXPENSES — Special Circumstances
Please give the monthly expenditure amount and details of this expenditure.
Monthly amount: €Details:
JURISDICTIONOnly applicable if Circuit Court Application
With reference to section 5(2) of the Act, please specify relevant County of the Debtor.
Circuit Court:
Reason for specifying County:*
Debtor residing at the time ofthis application Debtor resided within one yearof the time of this application Debtor has a place ofbusiness at the time of this application Debtor had a place of businesswithin one year of the time ofthis application
ISI Case Reference No.:
Signature of Debtor:
______________
Printed Name of Debtor:
______________
Date:
______________
Note: This document will be completed in electronic format on such electronic platform that the Insolvency Service may from time to time make available or otherwise specify for such purpose, following which, the information will be processed into an output format which may be in electronic form or printed on paper. Where any item in this document is completed to the effect of ‘no’, or any item in this document is not completed, that information may not appear on such output format and any person reviewing the output format should proceed on the basis that, where the output format does not refer to such information, the relevant item was either completed by selecting ‘no’ or the relevant item was not applicable in that instance. In this document, where an asterisk (*) is used and a choice is provided of the appropriate response, the response selected will appear in the output format. This note will not appear on the output format.
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GIVEN under the seal of the Insolvency Service of Ireland,
30 August 2013.
LORCAN O’CONNOR,
Director of the Insolvency Service of Ireland.
EXPLANATORY NOTE
(This note is not part of the Instrument and does not purport to be a legal interpretation)
These Regulations prescribe the form to be used when making an application to the Insolvency Service of Ireland for a protective certificate in respect of a proposal for a Personal Insolvency Arrangement.
*Delete where inapplicable
S.I. No. 337/2013 –
Personal Insolvency Act 2012 (Notification in relation to Excludable Debt) Regulations 2013.
The Insolvency Service of Ireland, in exercise of the powers conferred on it by section 3 of the Personal Insolvency Act 2012 (No. 44 of 2012) (the “Act”), hereby makes the following regulations:
1. These Regulations may be cited as the Personal Insolvency Act 2012 (Notification in relation to Excludable Debt) Regulations 2013.
2. The information about the debtor’s affairs prescribed for the purpose of section 28(2)(a) of the Act shall be, in so far as this information is applicable to the debtor, the information set out at Schedule 1 of the Personal Insolvency Act 2012 (Prescribed Financial Statement) Regulations 2013 ( SI No. 326 of 2013 ).
3. The information about the debtor’s affairs prescribed for the purposes of sections 58(2)(a) and 92(2)(a) of the Act shall be, in so far as this information is applicable to the debtor, the information set out at Schedule 2 of the Personal Insolvency Act 2012 (Prescribed Financial Statement) Regulations 2013 ( SI No. 326 of 2013 ).
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GIVEN under the seal of the Insolvency Service of Ireland,
2 September 2013.
LORCAN O’CONNOR,
Director of the Insolvency Service of Ireland.
EXPLANATORY NOTE
(This note is not part of the Instrument and does not purport to be a legal interpretation.)
These Regulations prescribe the information about a debtor’s affairs that shall accompany a notification to a creditor of an excludable debt in circumstances where the debtor wishes a Debt Relief Notice to be issued in respect of the excludable debt or, where a personal insolvency practitioner proposes to include an excludable debt in a proposal for a Debt Settlement Arrangement or Personal Insolvency Arrangement.
S.I. No. 334/2013 –
Personal Insolvency Act 2012 (Schedule of Creditors) Regulations 2013.
The Insolvency Service of Ireland, in exercise of the powers conferred on it by section 3 of the Personal Insolvency Act 2012 (No. 44 of 2012) (the “Act”), hereby makes the following regulations:
1. These Regulations may be cited as the Personal Insolvency Act 2012 (Schedule of Creditors) Regulations 2013.
2. The following information is hereby prescribed for the purposes of sections 59(2)(e)(iii) and section 93(2)(e)(iii) of the Act and shall be included in the schedule of creditors of the debtor concerned referred to in section 59(2)(e) or, as applicable, section 93(2)(e) of the Act, where known to the debtor or the personal insolvency practitioner concerned:
(a) the creditor’s legal name;
(b) the creditor’s address (being the physical address and (if applicable) electronic address for service of notices and correspondence to the creditor subject to section 134 of the Act);
(c) whether the creditor is a connected person in relation to the debtor;
(d) whether the debt concerned is an excludable debt and, if so, whether that debt is a permitted debt within the meaning of section 58 or, as applicable, section 92 of the Act;
(e) whether the debt concerned is an excluded debt;
(f) whether some or all of the debt concerned is a preferential debt within the meaning of section 67 or, as applicable, section 101 of the Act and, if so, the preferential amount.
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GIVEN under the seal of the Insolvency Service of Ireland,
30 August 2013.
LORCAN O’CONNOR,
Director of the Insolvency Service of Ireland.
EXPLANATORY NOTE
(This note is not part of the Instrument and does not purport to be a legal interpretation)
These Regulations prescribe the additional information to be included in the Schedule of Creditors in connection with an application for a protective certificate for a Debt Settlement Arrangement or a Personal Insolvency Arrangement.
S.I. No. 259/2014 –
Personal Insolvency Act 2012 (Prescribed Financial Statement) Regulations 2014.
Download PDF View PDF
Notice of the making of this Statutory Instrument was published in
The Regulations
“Iris Oifigiúil” of 17th June, 2014.
The Insolvency Service of Ireland, in exercise of the powers conferred on it by section 3 and section 136 of the Personal Insolvency Act 2012 (No. 44 of 2012), and with the consent of the Minister for Justice and Equality, hereby makes the following regulations:
1. These Regulations may be cited as the Personal Insolvency Act 2012 (Prescribed Financial Statement) Regulations 2014.
2. In these Regulations, “the Act” means the Personal Insolvency Act 2012 (No. 44 of 2012).
3. The form set out in Schedule 1 is the prescribed form to be used by persons where required under Part 3 of the Act to complete a Prescribed Financial Statement for the purposes of making an application for a Debt Relief Notice or otherwise in connection with a Debt Relief Notice process.
4. The form set out in Schedule 2 is the prescribed form to be used by persons in all circumstances, other than those referred to in Regulation 3 where required under Part 3 of the Act to complete a Prescribed Financial Statement, including for the purposes of an application for a protective certificate or the making of a proposal for, review or variation of a Debt Settlement Arrangement or Personal Insolvency Arrangement.
5. The Personal Insolvency Act 2012 (Prescribed Financial Statement) Regulations 2013 ( S.I. No. 326 of 2013 ) are revoked.
SCHEDULE 1
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SCHEDULE 2
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The Minister for Justice and Equality consents to the making of the foregoing Regulations.
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GIVEN under the Official Seal of the Minister for Justice and Equality,
13 June 2014.
FRANCES FITZGERALD,
Minister for Justice and Equality.
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GIVEN under the seal of the Insolvency Service of Ireland,
13 June 2014.
RANDALL PLUNKETT,
A Member of Staff of the Insolvency Service of Ireland Authorised by the Director of the Insolvency Service of Ireland to Authenticate the Seal of the Insolvency Service of Ireland.
EXPLANATORY NOTE
(This note is not part of the Instrument and does not purport to be a legal interpretation)
These Regulations prescribe the form to be used by persons where required under Part 3 of the Personal Insolvency Act 2012 to complete a Prescribed Financial Statement when applying for a Debt Relief Notice or otherwise in connection with a Debt Relief Notice process, and the form to be used by persons in all other circumstances where required under Part 3 of the Act to complete a Prescribed Financial Statement, including for the purposes of an application for a protective certificate or the making of a proposal for, review or variation of a Debt Settlement Arrangement or Personal Insolvency Arrangement.