Home / Restructuring & Insolvency

Legal News

Insolvency Service to rescind ACCA’s status as recognised professional body

Copyright © 2025 LexisNexis

Published on: 27 January 2021

Published by LNB News

LNB News 27/01/2021

Document Information

Issue Date: 27 January 2021

Published Date: 27 January 2021

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

The Insolvency Service has announced that the Association of Chartered Certified Accountants (ACCA) has applied to the Secretary of State for Business to give up its status as a recognised professional body for insolvency practitioners. Following a request made under section 391N of the Insolvency Act 1986 by the ACCA on 20 February 2019, in which it asked the Secretary of State to consider terminating the ACCA’s status as a recognised professional body, the Minister for Climate Change and Corporate Responsibility is satisfied that it is appropriate to revoke this recognition. The Secretary of State has thus decided to make the Insolvency Practitioners (Recognised Professional Bodies) (Revocation of Recognition) Order 2021, which will take effect from 1 March 2021.

Popular documents

Priority between loss reliefs in loss making companies

Priority between loss reliefs in loss making companiesWhy does it matter?A company that is a member of a group and has incurred any of the types of losses available for surrender by way of group relief may, without any further rules, have more than one way in which to use the loss. There are a

If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal

If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal fees, will that count as a PET against their estate?A disclaimer is the refusal of a gift prior to acceptance. The refusal of the gift must take place before the beneficiary accepts any benefit

Can shares in a limited company that have not been paid-up at all be cancelled?

Can shares in a limited company that have not been paid-up at all be cancelled?A limited company having a share capital may not alter that share capital, except in the ways listed in section 617 of the Companies Act 2006 (CA 2006). Shares in a company cannot simply be cancelled without following an

Glossary—Latin legal terms

Glossary—Latin legal termsDespite attempts in recent years to simplify the language used in legal cases, there are still a number of Latin phrases commonly used in personal injury claims. The following Latin phrases are listed in alphabetical order:Latin