THE Insolvency Practitioners Association is to become the first professional body to grant partial licences for practitioners wishing to specialise in either personal or corporate insolvency work.
In October 2015, the government’s Deregulation Act opened up the insolvency licensing regime to create greater competition and flexibility by allowing specialisation.
Given the enabling provisions were enacted some six months ago, and applicants with relevant exam passes are pressing for implementation, the association has indicated it is keen to move ahead with these arrangements and grant licences to eligible practitioners.
IPA president Mark Sands said: “We have been preparing for this change for some time, and to some extent have paved the way for it through the changes we introduced to our exams when we began setting separate CPI papers in personal and corporate insolvency. I am delighted that the IPA is once again leading on a positive development in the profession and will be the first to grant these new partial licences.
“We are encouraging the joint exam board to make adjustments to cater for this going forward, but in the meantime can offer the new limited authorisations to applicants with the appropriate qualifications and experience, and expect this to be taken up initially by those in the personal insolvency sector.”
The entry criteria is published on the IPA’s website. Applicants should submit a completed application form to the IPA’s membership & authorisation section through the link provided.
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