The Compendium

In order to become an IP a person must have achieved the Joint Insolvency Examination Board's qualification and held office as an officeholder in not less than 30 cases during the period of 10 years immediately preceding the date on which she made her application for authorisation; . . or have acquired not less than 7000 hours of insolvency work experience, of which no less than 1400 hours must have been acquired within the period of two years immediately prior to the date of the making of his application; ...

... and show that she satis.es one of the following three requirements:

Firstly, the applicant has become an officeholder in at least .ve cases within the period of .ve years immediately prior to the date of the making of his application.

Secondly, the applicant has acquired 1,000 hours or more of higher insolvency work experience or experience as an officeholder within the period referred to immediately above.

Thirdly, the applicant can show that within the period referred to in the period of ten years immediately preceding the date of application, she has achieved one of the following combinations of positions as an officeholder and hours acquired of higher insolvency work experience. This is:

1. four cases and 200 hours
2. three cases and 400 hours
3. two cases and 600 hours, or
4. one case and 800 hours

[See 'Liquidator', 'Administrator', 'Nominee', 'Supervisor', 'Trustee in Bankruptcy', 'Joint Insolvency Examination Board' and 'JIEB'.]

Insolvency Practitioners' Association

The Insolvency Practitioners' Association (IPA) licences and regulates Insolvency Practitioners under insolvency and anti-money laundering (AML) regulations, and works to raise professional standards through professional training, benchmarking, networking, best practice sharing and other engagement opportunities.