Application for Insolvency Licence (GB/NI)
Under the Insolvency Act 1986 and the Insolvency (NI) Order 1989, members of the Institute must apply for and be granted an Insolvency Licence before accepting appointments in GB/NI.
To be eligible an applicant must comply with the requirements of the Insolvency Licensing Regulations and Guidance including the following:
- Demonstrate that he is a fit and proper person;
- Have completed an Insolvency Application form;
- Have passed the JIEB exams or as provided by The European Communities (Recognition of Professional Qualifications) Regulations 2007 (EC Qualification Regulations) and submitted the JIEB certificate;
- Have acquired a minimum of 600 chargeable hours of recent insolvency experience over three consecutive years, subject to a minimum of 150 chargeable hours in each of those three years.
- Have paid the appropriate licence fee.
Further information is available at Insolvency Licensing Regulations and Guidance.
Renewal of Insolvency Licence (GB/NI)
An Insolvency Practitioner must apply annually to the Insolvency Licensing Committee for renewal of his Insolvency Licence. A detailed on-line annual return is completed for this purpose. The renewal process ensures Insolvency Practitioners remain fit and proper to hold an Insolvency Licence.
Further information is available at Insolvency Licensing Regulations and Guidance.