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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)?

Updated by MLAW

No, you are not required to hold an insolvency practitioner's licence. However, you will need to continue to maintain the necessary qualifications required under the Bankruptcy Act (Cap. 20) and / or Companies Act (Cap. 50):

Regime

Qualifications

Bankruptcy and Voluntary Arrangements

  • Public Accountant (“PA”);

  • Solicitor; or

  • Any other person the Minister may, by order published in the Gazette, prescribe

Creditors’ Voluntary Winding Up

  • Approved liquidator (unless a resolution is passed)

Court-Ordered Winding Up

  • Approved liquidator

Receivership

Judicial Management

  • PA;

  • Non-PA if appointed by Court or nominated by Minister

Topics:

Insolvency PractitionersLicensing

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