SIPs – England & Wales
SIPs are issued to Insolvency Practitioners with a view to maintaining standards by setting out required practice and harmonising practitioners’ approach to particular aspects of insolvency. The purpose of SIPs is to outline basic principles and essential procedures with which Insolvency Practitioners are required to comply. Departure from the standards established in SIPs is a matter that may be taken into account in the event of disciplinary or regulatory action. All SIPs should be read in conjunction with SIP1 (An introduction to statements of insolvency practice). Below is the list for England & Wales:
SIP Index – Index of All E & W SIPs
SIP 1 – An introduction to statements of insolvency practice (Effective 1 October 2015)
SIP 3.1 – Individual voluntary arrangements (Effective 1st March 2023)
SIP 3.2 – Company voluntary arrangements (Effective 1st April 2021)
SIP 6 – Decision Making in Insolvency Proceedings (Effective 1st January 2018)
SIP 7 – Presentation of financial information in insolvency proceedings. (Effective 1st April 2021)
SIP 11 – The handling of funds in formal insolvency appointments (Effective 1st January 2018)
SIP 12 – Records of meetings in formal insolvency proceedings (Effective 1st August 1996)
SIP 14 – A receiver’s responsibility to preferential creditors (Effective 1st June 1999)
SIP 16 – Pre-packaged sales in adminstrations (Effective from 30th April 2021)
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