4. The powers, duties and functions of the Authority

keep under review the law and practice relating to insolvency of individuals and companies in Sri

register, renew the registration of, and cancel or suspend the registration of, persons as Insolvency

keep and maintain a register of Insolvency

impose conditions on –

individual Insolvency Practitioners;

all Insolvency Practitioners; and

Insolvency Practitioners of one or more specified classes;

foster the development of training, in association with all relevant professional bodies, to enhance the skills and standards of Insolvency

maintain a list of requirements with which a person must comply in order to be registered as an Insolvency Practitioner, and make arrangements for assessing compliance with those requirements, in the manner prescribed;

make rules, standards, codes of conduct and guidelines, regarding the conduct and performance of Insolvency Practitioners;

make practice directions and guidelines regarding any act or matter required to be done or performed under this Act and any regulation made thereunder;

monitor the conduct and performance of

establish and maintain procedures for the receipt, handling and determination of complaints against

impose disciplinary sanctions on Insolvency

make applications to the court for the removal from office of an Insolvency Practitioner and for prohibition orders;

direct any officer of the Authority to participate in court proceedings relating to the conduct or performance of an Insolvency Practitioner;

monitor the conduct and performance of the

issue rules, standards and guidelines, regarding the carrying out of the role of Bankruptcy Trustee, authorised intermediary, personal insolvency administrator, personal insolvency proposer, administrator, deed administrator, liquidator, provisional liquidator or receiver;

establish and maintain a personal insolvency register;

carry out research, commission studies, disseminate information and provide public education in the area of insolvency of individuals and companies;

establish and maintain communication and liaison with domestic and international entities as may be necessary for the performance of its functions;

compile and maintain, statistics and data as may be necessary, for the due exercise, performance and discharge of its powers, functions and duties;

establish committees as are required for effectively administering its functions and delegate such powers and functions as are necessary to such committees; and

do all such other acts as may be considered necessary, incidental and ancillary to the exercise, performance and discharge of its powers, duties and functions under this Act and any regulation made thereunder.

any one of its members;

the Director-General of the Authority appointed under section 5; or

an officer of the Authority, and such powers and functions shall be exercised and per-formed, subject to the general directions of the Authority.