Appointment taking licence
Eligibility – Requirements to hold a full IPA insolvency Licence
To become an IPA licensed Insolvency Practitioner (IP) and carry out insolvency work under the Insolvency Act 1986, you must:
- Be a member or apply for membership at the time of applying for a licence
- Have passed the Joint Insolvency Exam (JIE)
- Meet the minimum experience requirements (600 hours of higher insolvency experience over the three to five years prior to applying)
- Have completed 25 hours of structured Continuing Professional Development (CPD) in the preceding 12 months
- Have two referees: one referee must be an IP, but does not need to be a member of, or authorised by, the IPA. The second referee may also be an IP, or, if not, should work professionally in insolvency or a related field, for example law, accountancy, finance, insurance or creditor representation. If you are currently an Ordinary/Fellow Member and have previously supplied a reference, only provide one further reference from an IP to certify your experience.
- Have you paid the appropriate fee, contact the membership team to enquire about fees.
How to apply for a licence
Please ensure that you complete the form correctly and include information that is necessary for the IPA Regulation and Conduct Committee (R&CC) to consider your application.
Once accepted, Appointment Takers must:
- Hold a current enabling bond
- Have professional indemnity insurance (PII)
- Comply with the Insolvency Licensing Regulations and Guidance Notes
- Provide a Regulation 18 MLR 2017 firm wide risk assessment
If you are transferring your licence from another RPB to the IPA, please forward your latest monitoring report together with any outcomes of findings, if appropriate, when submitting your application.
What happens now?
All applications undergo background checks and therefore allow 2 weeks for this to take place. Applications are then considered by the R&CC, which usually meets every 4-6 weeks. Following formal approval of the minutes, you will be notified of the outcome by the membership team.
When submitting your application, please provide as much information as possible and complete the form correctly.