S.I. No. 226/2016 - Personal Insolvency Act 2012 (Renewal of Authorisation of Personal Insolvency Practitioners) Regulations 2016.

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.

GIVEN under the Official Seal of the Minister for Justice andEquality,

5 May 2016.

FRANCES FITZGERALD,

Minister for Justice and Equality.

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.

4. Personal Insolvency Practitioner Authorisation Number

Part B — Professional Status

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of

10

th 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