Section 391I: Recovery of financial penalties

Insolvency Act 1986 · 1986 c. 45View on legislation.gov.uk

Part XIII: Insolvency Practitioners and their Qualification

If the whole or part of a penalty is not paid by the time by which it is required to be paid, the unpaid balance from time to time carries interest at the rate for the time being specified in section 17 of the Judgments Act 1838 (but this is subject to any requirement imposed by the court under section 391H(5), (6) or (7)).

If an appeal is made under section 391H in relation to a penalty, the penalty is not required to be paid until the appeal has been determined or withdrawn.

Subsection (4) applies where the whole or part of a penalty has not been paid by the time it is required to be paid and—

no appeal relating to the penalty has been made under section 391H during the period within which an appeal may be made under that section, or
an appeal has been made under that section and determined or withdrawn.

The Secretary of State may recover from the recognised professional body in question, as a debt due to the Secretary of State, any of the penalty and any interest which has not been paid.

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Reuse reviewed 21 August 2026 under Open Government Licence v3.0.