Article 350L Revocation of recognition at instigation of DepartmentF1C1

an act or omission of the body (or a series of such acts or omissions) in discharging one or more of its regulatory functions has had, or is likely to have, an adverse impact on the achievement of one or more of the regulatory objectives; and

it is appropriate in all the circumstances of the case to revoke the body's recognition under Article 350.

as mentioned in paragraph (1)(a); and

that it is appropriate in all the circumstances of the case for the body to be declared to be a recognised professional body which is capable of providing its insolvency specialist members with partial authorisation only of the kind specified in the order.

an order under paragraph (1) is referred to as a “revocation order”;

an order under paragraph (2) is referred to as a “partial revocation order”.

has effect from such date as is specified in the order; and

may make provision for members of the body in question to continue to be treated as fully or partially authorised (as the case may be) to act as insolvency practitioners for a specified period after the order takes effect.