Am I required to hold an insolvency practitioner's licence to be appointed to act in cases commenced under the Insolvency Restructuring and Dissolution Act 2018 (“the Act”)?

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Accepted Answer

Yes, in order to accept officeholder appointments whether in personal or corporate insolvency and debt restructuring cases commenced under the Act, you are required to hold a valid insolvency practitioner's licence, see section 47(1) of the Act.

It is an offence under section 48(2) of the Act for any person to act as an insolvency practitioner for an individual or corporation or to accept officeholder appointments without a valid licence

Am I required to hold an insolvency practitioner's licence to be appointed to act in cases commenced under the Insolvency Restructuring and Dissolution Act 2018 (“the Act”)?

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Are appointments in members' voluntary winding up or schemes of arrangement cases considered as relevant work experience required for the purpose of the licence application?

Do I need to hold an insolvency practitioner's licence if I intend to continue with and complete the administration of cases commenced under the Bankruptcy Act (Cap. 20) and/or Companies Act (Cap. 50)?

I have submitted an application for the renewal of my insolvency practitioner's licence, and it is currently pending approval. Can I continue to act as an insolvency practitioner even though my existing insolvency practitioner's licence has expired?

Is there a register of individuals holding a valid insolvency practitioner's licence?

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