§ Ms. HarmanTo ask the President of the Board of Trade what was the number of(a) personal insolvencies and (b) company insolvencies in 1992 and in 1991; and if he will make a statement.
§ Mr. Neil HamiltonThe relevant information was published on my Department's behalf by the Association of British Chambers of Commerce in the 5 February issue of "Business Briefing", a copy of which is available in the Library.
§ Mr. Austin MitchellTo ask the President of the Board of Trade who regulates insolvency practitioners in Britain.
§ Mr. Neil HamiltonUnder the Insolvency Act 1986 only authorised persons may act as insolvency practitioners. Authorisation may be granted either by a professional body recognised by the Secretary of State or by the Secretary of State himself. The professional conduct of a person so authorised is regulated by the professional body or by the Secretary of State.
In addition, the insolvency legislation contains a number of provisions under which those interested in a particular insolvency may have control over the actions of an insolvency practitioner, including power to make application to court for relief where there is dissatisfaction with any act, omission or decision of the practitioner.