Paragraph 8ZA Minimum run-off periodF1

The terms of the bond must provide a minimum period of two years during which a claim may be made in respect of relevant losses in a case.

This period must begin with the date on which the insolvency practitioner is released or discharged in that case.

The reference to “released or discharged in that case” includes the insolvency practitioner being released or discharged from office in a subsequent capacity in that case.

Where the insolvency practitioner holds office in a subsequent capacity in that case, the period must begin with the date of release or discharge from that office.