Regulation 5 Fit and proper bodyI1
England and Wales
A body may not be designated a competent authority unless it is a fit and proper body to act as such.
Without prejudice to the generality of paragraph (1), a body is not a fit and proper body qualified to act as a competent authority if it—
has committed any offence under any enactment contained in insolvency legislation;
has engaged in any deceitful or oppressive or otherwise unfair or improper practices, whether unlawful or not, or any practices which otherwise cast doubt upon the probity of the body; or
has not carried on its activities with integrity and the skills appropriate to the proper performance of the duties of—
a body which purports to ensure the provision of, or to provide, debt management or debt counselling services to the public, or
a competent authority; or
has entered into a company voluntary arrangement under Part 1 of the Act.