(1) A person who is not an individual is not qualified to act as an insolvency practitioner.
[(2) A person is not qualified to act as an insolvency practitioner at any time unless at that time the person is appropriately authorised under section 390A.]
(3) A person is not qualified to act as an insolvency practitioner in relation to another person at any time unless—
(a) there is in force at that time security or, in Scotland, caution for the proper performance of his functions, and
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