Standards for RPRs
The criteria for RPR Scheme registration include that an individual must be a member of a Relevant Professional Body whereby the nature of their membership of that body imposes an appropriate regulatory framework upon them in the conduct of their work, and the work that is regulated by that Body is sufficiently relevant to the conduct of the work of a Registered Property Receiver.
The bodies currently recognised for this purpose are the Royal Institution of Chartered Surveyors (RICS) and any Professional Body from time to time designated as a Recognised Professional Body pursuant to section 391 of the Insolvency Act 1986 for the purposes of granting authorisation to act as an Insolvency Practitioner.
RPRs are required to comply with any prevailing Rules of Conduct or Ethics Code as determined by their Professional Body. These codes may vary in their detail, however, they ostensibly provide for the maintenance of substantially similar expected professional standards.
Additionally, as a condition of registration under the Scheme, RPRs must also indicate their willingness to comply with the prevailing professional standards specifically for Registered Property Receivers, in the form of Practice Statements. These Practice Statements are developed and recommended by the Association of Property and Fixed Charge Receivers (nara) and endorsed by RICS and IPA.
Departure from the standards contained in endorsed Practice Statements shall be a matter capable of referral to the RPR Scheme Quality Assurance Panel and/or may form the basis of a formal complaint to about the conduct of the RPR to their professional body. (See Scheme Operation)
In partnership with:
