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Insolvency

Volume 307: debated on Monday 2 March 1998

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To ask the President of the Board of Trade what factors governed those interests represented on the sponsored Insolvency Regulation Working Party. [31233]

The Insolvency Regulation Working Party was established by the insolvency recognised professional bodies and The Insolvency Service and its members are representatives of them.

To ask the President of the Board of Trade if she will list (a) the number of complaints per annum received by each of the bodies responsible for regulating insolvency practitioners, (b) the nature of the complaints, (c) the average and the longest time taken to investigate the complaints and (d) the nature of the outcomes in each of the last five years. [31200]

The number of complaints about insolvency practitioners received by each of the bodies for the period in question are in the table.

19931994199519961997
Institute of Chartered Accountants in England and Wales272263246325319
Insolvency Practitioners Association166161160115120
Law Society17330
Institute of Chartered Accountants of Scotland1247391811
Association of Chartered Certified Accountants523384130
Institute of Chartered Accountants in Ireland42029
The Law Society of Scotland00000
Secretary of State7284813645
Total532587567540534
Information about the nature of the complaints, the average and longest time taken to investigate the complaints and the nature of the outcome is either not available or could be provided only at disproportionate cost. Regulatory action was taken by the professional bodies in appropriate cases but the majority of complaints, after investigation, revealed no evidence of misconduct.

To ask the President of the Board of Trade how many (a) firms and (b) individuals are registered with each of the bodies responsible for authorising insolvency practitioners under the Insolvency Act 1986. [31234]

Only individuals may be authorised to act as insolvency practitioners. The numbers authorised by each of the bodies are as follows:

Number
Institute of Chartered Accountants in England and Wales844
Insolvency Practitioners Association308
Law Society184
Institute of Chartered Accountants of Scotland168
Association of Chartered Certified Accountants127
Institute of Chartered Accountants in Ireland73
The Law Society of Scotland22
Secretary of State125
These figures will be published in the next Insolvency Service Annual Report.

To ask the President of the Board of Trade what proposals she has for requiring those licensed under the Insolvency Act 1986 to publish information about their affairs. [31339]

None at this stage. However, I will give careful consideration to any submissions that my hon. Friend may wish to make about this matter.