Further guidance


Welcome to the R3 Technical Library, a unique resource for searching technical and specialist information within the sector. The below are available resources for Supplementary Notes.

Statutory declarations and prescribed persons: In England and Wales, and Scotland
We are all aware of the potential impact of procedural defects, for example, on the validity of out of court appointments of administrators. As such we thought it would be useful to draw to your attention to differences between a prescribed person for the purpose of statutory declarations in England and Wales, and Scotland.
Business Banking Resolution Service ('BBRS') (May 2023)
BBRS is an industry funded not-for-profit resolution service, for eligible SMEs, who have a dispute with a number of participating banks.
HM Treasury - Office of Financial Sanctions Implementation
Financial Sanctions Search - The consolidated list of financial sanctions targets search enables users to find information relating to asset freeze and investment ban targets across all financial sanctions regimes implemented in the UK.
Access an insolvent company’s Xero organisation (January 2021)
Xero has a specific insolvency process. For insolvency access and transfer requests, Xero need the appointed Insolvency Practitioner to sign an insolvency access form.
Dealing with money worries- A Guide to your Options
Debt worries can be overwhelming and frightening and can leave those who are concerned about what they owe feeling helpless. At R3, we want to help people manage and overcome these feelings and help them make positive decisions about their future, so we have produced a free resource - “Dealing with money worries – a guide to your options” – for people in England and Wales.
Relevant information published by Ofgem for IPs appointed to failed energy supply companies
Links to relevant information published by Ofgem for IPs appointed to failed energy supply companies: 1) Open letter to insolvency practitioners appointed to failed Energy Supply companies. 2) Open letter to energy supply companies – an enabling framework for regulatory flexibility given the impact of Covid-19.
Insolvency Litigation - The Likely Effect of the Jackson Reforms on Insolvency Litigation (April 2014)
A report commissioned by R3 (with the support of ACCA, ICAEW, ICAS, IPA, JLT Specialty Ltd, Moon Beever and Moore Stephens LLP)
Insolvency Litigation and the Jackson Reform - An Update (April 2016)
A report commissioned by R3 (with the support of ACCA, ICAEW, ICAS, ILA, IPA, IRS, JLT Specialty Ltd, Willis Taylor Watson)
Is a Voluntary Arrangement right for me?
Since June 2002, the regulators have required insolvency practitioners (IPs) to give this guidance leaflet to people thinking about making an individual voluntary arrangement (IVA). It aims to help you understand what is involved before you commit yourself.
Guidance Note on Payment Protection Insurance Mis-Selling Claims
The purpose of this paper is to provide office holders who are dealing with Individual Voluntary Arrangements (IVAs) or bankruptcy cases guidance about the issues that may arise when the debtor may have been mis-sold PPI. This guidance does not constitute legal advice nor does it seek to instruct or direct IPs in the administration of their insolvency cases. The bodies issuing this guide do not accept any liability in respect of actions that IPs may take in accordance with it, as it must be for each IP to be satisfied that his/her conduct meets the legal and professional requirements placed upon office-holders. However, notwithstanding the above, IPs should have regard to the regulatory as well as legal consequences of their actions.
PPI Guidance Review in the light of the decision in Green v Wright
In April 2013, the RPBs, in collaboration with R3 and DRF, issued guidance on the treatment of PPI claims in personal insolvency ("PPI Guidance"). That guidance was subsequently subject to minor revision in respect of notification to HMRC. A recent review of the current PPI Guidance by those issuing this guidance indicates that its provisions are unaffected by the decision in Green v Wright. This guidance note is supplemental to the PPI Guidance and intended to provide clarification in respect of individual voluntary arrangements only.
FCA Authorisation Notes - September 2016
The Financial Conduct Authority (FCA) has been responsible for the regulation of activities relating to consumer credit since 1 April 2014. Under the FCA regime persons providing regulated activities including (but not limited to) debt counselling or debt adjusting require authorisation by the FCA, unless they benefit from a relevant exclusion or exemption or are an appointed representative of an authorised firm.
Problem Areas in Bankruptcies - Guidance for Dealing with 'Difficult' or Vexatious Individuals - September 2016
During a bankruptcy procedure, the Trustee in bankruptcy has a number of duties to fulfil. Amongst these is the duty to maximise returns to creditors, as well as a duty to respond to the bankrupt's queries during the process. In most bankruptcy cases, these two duties are performed with little difficulty or friction between them.
FSA Flowchart (in conjunction with above Interest Rate Hedging Products)
Interest Rate Hedging Products - Redress for Mis-Selling
This paper is for purposes of guidance only, and is not intended as a substitute for legal advice in particular cases. Interest Rate Hedging Products Interest rate hedging products (IRHPs) are products sold by banks to customers for the purpose of providing protection against fluctuations in interest rates. IRHPs are typically separate from the loans to which they relate. There are broadly four types of IRHP: Swaps - which enable customers to fix their interest rate.
Health and Safety Legislation: A Guide for Office-Holders
Employers owe a duty under common law and statute to safeguard the health and safety of employees and others. There are also many regulations setting out what must be done in certain situations. In most instances, a balancing exercise should be undertaken to consider the likelihood and severity of the risk, compared to the cost of protecting against it. However, the impecuniosity of the employer is not a factor: the employer should not undertake the work if it cannot do it safely. The employer can be liable to damages and criminal fines if it breaches the duty. An office-holder in control of an employer can be criminally liable (up to two years imprisonment) for a breach of a regulation, and could be personally liable for certain damages for breach of the common law duty (although this is usually insured against).
Approach to SIP 9 Reporting and Fee Estimates - Reviewed for the 2016 Rules
The following guidance is intended to provide members with some ideas and examples of matters which might be relevant to include as part of a meaningful narrative explanation to stakeholders in relation to the time spent by members and their staff in dealing with an appointment. It is anticipated that the narrative will precede the time and charge-out summary and, whilst some aspects may be generic in nature, the broader narrative would need to be tailored and be proportionate to the specific circumstances of each case.
Ben LuxfordBen Luxford
Head of Technical
020 7566 4218
Moira FitzpatrickMoira Fitzpatrick
Technical Manager
020 7566 4210

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