Insolvency Licensing Regulations and Guidance Notes
The Institute of Chartered Accountants in England and Wales (ICAEW), is a recognised professional body (RPB) under section 391 of the Insolvency Act 1986, for the regulation of insolvency practitioners.
One the requirements of being an RPB is that ICAEW must have rules setting out how the insolvency practitioners it authorises will be regulated.
The Insolvency Licensing Regulations and Guidance Notes are the principal rules relating to the regulation of insolvency practitioners by ICAEW
A new regulation 3.5A, effective from 1 May 2018, imposes an explicit obligation on insolvency practitioners to protect the estate funds held on their insolvency appointments.