Regulation 3 Transitional and savings provisions
Subject to paragraphs (2) to (3), the amendments made by these Regulations do not apply to a bond issued by the surety or cautioner before 1 January 2026 as it relates to a case in respect of which an insolvency practitioner was appointed before 1 January 2026.
Where the Secretary of State determines an application for approval of a form of a bond during the transitional period, the Secretary of State may treat the form of bond as complying with paragraph 3 of Schedule 2 to the Insolvency Practitioners Regulations 2005 if the bond complies with the Insolvency Practitioners Regulations 2005—
as those Regulations had effect immediately before 1st December 2024, or
with the amendments made by regulation 2.
In this regulation—
“appointedincludes appointment in a subsequent capacity if the insolvency practitioner was appointed in an initial capacity in that case before 1 January 2026.
“transitional periodmeans the period beginning with 1st December 2024 and ending with 31 December 2025.