With effect from 1 April 2014, all Insolvency Practitioners, while acting as Insolvency Practitioners, are excluded from the Consumer Credit Licensing regime in respect of the activities of:
- debt adjusting;
- debt counselling;
- debt collecting;
- debt administration; and
- providing credit information services
A similar exclusion applies when an insolvency practitioner is acting in ‘reasonable contemplation of appointment’. In this case, the relevant activities are:
- debt adjusting
- debt counselling; and
- providing credit information services
Note: The exclusions highlighted above also apply to staff working for the Insolvency Practitioner.