Non-appointment taking licence

Eligibility – Requirements to hold a non-appointment taking 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 paid the appropriate fee

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.

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.