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

The Board receives an inspection report showing that an insolvency professional, Mr. Dinesh Pillai, repeatedly missed compliance requirements. The Board wants to direct him to rectify the lapses and, if needed, suspend his registration. Which combination of functions in Section 196(1) supports both actions?

Clause (g), which allows monitoring and compliance directions, together with clause (a), which allows suspension or cancellation of registrations. Fees, eligibility, curriculum, websites and MoUs in the other pairs do not empower the Board to direct rectification or suspend a professional.

  1. AClause (g) on monitoring performance and passing directions for compliance, and clause (a) on suspending or cancelling registrationsCorrect
  2. BClause (c) on levying fees, and clause (i) on publishing information only
  3. CClause (b) on specifying eligibility requirements, and clause (e) on laying down the examination curriculum
  4. DClause (n) on maintaining websites, and clause (o) on entering into memoranda of understanding

Explanation

Clause (g) allows monitoring and issuing directions for compliance, and clause (f) allows inspections and orders for compliance. Clause (a) allows the Board to register, renew, withdraw, suspend or cancel registrations. The other pairs relate to fees, eligibility, curriculum, websites and MoUs, none of which enable directions or suspension.

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