Personal Insolvency Act 2012 (Authorisation and Supervision of Personal Insolvency Practitioners) Regulations 2013.
Statutory Instruments
Source: Statutory Instruments

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paragraphs: (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].
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paragraphs: 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].
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paragraphs: In the Regulations:
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paragraphs: (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.
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paragraphs: (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.
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paragraphs: (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.
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paragraphs: (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.
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paragraphs: 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.
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paragraphs: (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.
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paragraphs: 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.
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paragraphs: (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.
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paragraphs: (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.
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paragraphs: (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.
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paragraphs: (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.
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paragraphs: (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.