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Progress of Recommendations 2000, 2001

2000 Annual Report Recommendation

1 Unsatisfactory Voluntary Arrangements
Result: The RPBs have produced a booklet 'Is a Voluntary Arrangement right for me?' with
the instructions that this is to be used in all new IVAs. The action taken by the RPBs
went further than suggested in the recommendation.

2 Correspondence between IPs and Debtors/Creditors
Result: All RPBs issued guidance on new standards, by way of Newsletter. We are seeing
evidence of penalties being imposed by RPBs on IPs who fail to achieve this
standard.

3 Treatments of the Matrimonial Home in Bankruptcy
Result: The Enterprise Act 2002 made changes to the way in which the Matrimonial Home is
to be dealt with in Bankruptcy. These are to take effect from April 2004.

2001 Annual Report Recommendation

1 High incidence of failures of IVAs from a single Insolvency Practioner
Result: The evidence presently available to the RPBs does not enable them to respond fully
at this stage. We have asked them for more detailed information which should be
available in 2003.

2 Proper and effective resources for Monitory Units
Result: We are assured that this has been completed. We will, however, be keeping the
subject under close review.

3 Fees and Disbursements
Result: The issue of a revised SIP 9 goes a long way towards achieving this. We still retain
some concerns about actual value for money but will see how things change with the
latest set of instructions.

4 Simplification of the insolvency regulatory structure
Result: There is already evidence of RPBs working together and harmonising some of their
activities, particularly in the area of complaints.

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