Change to the Insolvency Licensing Regulations - effective 1 May 2018

A change to the Insolvency Licensing Regulations was introduced on 1 May 2018 to clarify an insolvency practitioner’s responsibility for the estate funds held on their insolvency appointments. This new regulation (3.5A) does not impose any additional responsibilities or duties on insolvency practitioners – it just makes explicit what is already expected of an insolvency practitioner, that they should protect the estate monies in their care.