Written answers

Tuesday, 19 November 2013

Department of Justice and Equality

Insolvency Service of Ireland Issues

Photo of Terence FlanaganTerence Flanagan (Dublin North East, Independent)
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494. To ask the Minister for Justice and Equality the delays in appointing personal insolvency practitioners (details supplied); and if he will make a statement on the matter. [48982/13]

Photo of Alan ShatterAlan Shatter (Dublin South, Fine Gael)
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The Insolvency Service of Ireland (ISI) is the statutory body with responsibility for the authorisation of individuals to carry on practice as a personal insolvency practitioner (PIP). The process for authorising practitioners is rigorous and is based on a series of important considerations such as educational and professional qualifications, relevant knowledge and experience, and the completion of a course of study - by passing an exam - on the laws and practice generally, as they apply in the State, in relation to the insolvency of individuals and knowledge of the Personal Insolvency Act 2012. Applicants also have to demonstrate to the satisfaction of the ISI that they are fit and proper persons, that they are financially sound, and that they have the organisational capability and the resources to carry on the practice of being a practitioner. They also have to hold professional indemnity insurance as well as being tax compliant.

I am advised by the ISI that there are currently 76 PIPs authorised and that a number of applications for authorisation are under review. A number of individuals have been notified that the ISI is proposing to authorise them and they have been requested to submit the prescribed application fee. In other cases there are applicants who are not meeting the qualifying criteria or necessary requirements for authorisation.

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