Singapore legislation
Section 50
Section 50
Eligibility of individual to hold insolvency practitioner’s licence
(1)
An individual is not eligible to be granted, or to hold or continue to hold, an insolvency practitioner’s licence unless the individual is a qualified person or is for the time being exempted under subsection (2).
(2)
The Minister may exempt, for such period as the Minister may specify, any individual from the requirement of being a qualified person in order to be granted, or to hold or continue to hold, an insolvency practitioner’s licence.
(3)
In this section, “qualified person” means any person who —
is a solicitor;
is a public accountant;
is a chartered accountant within the meaning given by section 2(1) of the Singapore Accountancy Commission Act 2013; or
possesses such other qualifications as the Minister may prescribe by order in the Gazette.