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CS Professional · Insolvency and Bankruptcy - Law and Practice · Professional and Ethical Practices for Insolvency Practitioners

An insolvency professional agency is registered by the Board. In deciding whether to register it, which of the following is among the principles the Board must have regard to?

The Board must have regard to promoting good professional and ethical conduct amongst insolvency professionals. Section 200 lists this alongside promoting professional development, competent services, protecting debtors' and creditors' interests and growth of agencies. Maximising member fees, limiting agencies or avoiding monitoring are not listed principles.

  1. APromoting good professional and ethical conduct amongst insolvency professionalsCorrect
  2. BMaximising fee income of the agency's members
  3. CLimiting the number of agencies to protect existing ones
  4. DEnsuring members are exempt from monitoring by the agency

Explanation

Section 200 lists principles including promoting professional development and regulation, competent services, good professional and ethical conduct, protecting interests of debtors and creditors, and growth of agencies. Fee maximisation, restricting agencies and exemption from monitoring are not among them.

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