Part 13 of the Insolvency Act 1986 (insolvency practitioners and their qualification) is amended in accordance with subsections (2) to (4).
In section 390 (persons not qualified to act as insolvency practitioners), for subsection (2) substitute—
After section 390 insert—
For section 391 (recognised professional bodies) substitute—
In section 415A of the Insolvency Act 1986 (fees orders (general))—
in subsection (1) (fees for grant or maintenance of recognition of professional body), in paragraph (b) (power to refuse recognition, or revoke order of recognition, where fee not paid), after "391(1)" insert ;" or (2) "
after subsection (1) (fees for grant or maintenance of recognition of professional body) insert—1AFees under subsection (1) may vary according to whether the body is recognised under section 391(1) (body providing full and partial authorisation) or under section 391(2) (body providing partial authorisation).
An order under section 391(1) of the Insolvency Act 1986 (recognised professional bodies) made before the coming into force of this section is, following the coming into force of this section, to be treated as if it were made under section 391(1) as substituted by subsection (4) of this section.