Rule 17: Insolvency practice
Introduction
If you are a solicitor or an REL, and an insolvency practitioner in a firm, rule 17 applies to you when you accept appointments and act as an appointment holder. Rule 17 should be read in conjunction with The Practice of Insolvency: a Guide to Professional Conduct and Ethicsproduced by the Joint Insolvency Committee and adopted by all recognised professional bodies (RPBs) including the Solicitors Regulation Authority. The purpose of this Guide is to ensure your independence and objectivity when acting as an appointment holder and that you can identify and avoid conflicts of interest. The rule does not apply to your overseas practice except in relation to appointments appertaining to orders made in the courts of England and Wales.
Rule
17.01
If you are a solicitor or an REL you must, when accepting an appointment or acting as an appointment holder as an insolvency practitioner, comply with The Practice of Insolvency: a Guide to Professional Conduct and Ethics produced by the Joint Insolvency Committee and adopted by the Board of the Solicitors Regulation Authority.
Guidance to rule 17 – Insolvency practice
- 1.
You must comply with the requirements of the Insolvency Act 1986 and other relevant legislation in relation to accepting appointments and acting as an appointment holder.
- 2.
You should have regard to the other guidance and best practice promulgated from time to time by the Law Society as an RPB on all issues relating to appointment holding, including professional independence.
PDF (26K)
To link to this rule, please use www.sra.org.uk/rule17.
Send us your feedback on the Code.