Hi Ralph.

The other experts may cotton onto what you're describing very quickly, but for me could you clarify further the distinction you draw between guidance and guidelines?

Thanks TDA,

I just wanted to know if there were published guidelines which the industry must adhere to.
The point I was attempting to make was guidance is often open to interpretation and or abuse where as formal guidelines tend to be more adhered to because of the risk of fine or sanction.

Keep up the good work, its appreciated.

Hi Ralph

I totally agree that interpretation is the main issue. IP's work under;

PTD Regulations - Legislation
AIB guidance on protected trust deeds - Guidance
SIP3a - Guidance

It's the last 2 that create the most confusion I suspect.

Mark

Hi Ralph. There are sanctions that can be imposed against insolvency practitioners that fail to adhere to guidance such as SIP3a. Ultimately their licence can be revoked, meaning they cannot work as an IP any longer.

I don't think there is any "moving of goalposts by trainee staff". They will not have the authority to make decisions and will be working under the instructions of the IP or senior managers.

Thanks all,
That makes things a bit clearer.
Apologies TDA for the initial post, I re-read it myself and struggled to make head nor tail of it!!
Have a good weekend everyone.

Ralph