The question (15 marks)
Who is an insolvency professional? Explain how insolvency professionals and insolvency professional agencies are regulated under the Code. (15 marks)
MU Module IV, heads 4.2 and 4.3.
Plan your answer on paper before you look at the authorities — issue first, then the rule, then apply it to these facts.
It tests Unit 4 · The Institutional Framework of Bankruptcy Laws.
Authorities you will need
- Sections 206, 207 and 208 of the Code
- Sections 199 to 205 of the Code
- Sections 217 to 220 of the Code
- Sections 70(2) and 185 of the Code
How an answer is marked
A full-marks answer names the issue in one line, states the rule with its section, cites the authority, applies it to these facts and concludes — in that order. The app's model answer for this question is written in exactly that shape, with a checklist to mark your own attempt against.