Insolvency, Restructuring and Dissolution Act 2018 · 2020 Revised Edition · Part 3 · Official Assignee, Official Receiver and Insolvency Practitioners
50. Eligibility of individual to hold insolvency practitioner’s licence
Feedback & supportLast amended by an amending law of 2022. 2 amendments in all.
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).
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.
Minister
“Minister” means —(a)except as provided in paragraph (b), the Minister charged with the responsibility for administration of affairs of insolvent persons and insolvent companies; and(b)for the purposes of sections 124(1)(g) and (2)(c), 125(5), 127(3) and 198, the Minister charged with the responsibility for registration of companies;
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 Accounting and Corporate Regulatory Authority Act 2004; or
possesses such other qualifications as the Minister may prescribe by order in the Gazette.