A person may be appointed as a business rescue practitioner of a company only if he or she is a member in good standing of a legal, accounting or business management profession.
A conditional license as a practioner may be issued to a person who has been nominated by a company that is financially distressed.
Application for a license can be done online via CIPC’s website.
The following supporting documents should accompany the COR126.1 application form
- A comprehensive cv containing full and detailed particulars of your relevant practical experience in business turn around practice
- Certified copies of your qualifications
- Motivation to substantiate the specific group or category that you wish to be licensed for, clearly demonstrating your relevant experience for a
- senior practitioner (combined period of at least 10 years)
- experienced practitioner (combined period of at least 5 years)
- junior practitioner (combined period of less than 5 years)
- Evidence to substantiate the factual information in respect of history and relevant practical experience
- References that relate to the years of experience required for the specific category
- Proof of Membership to professional body or bodies including membership numbers
- Certified copy of your Identity Document or Passport
- A letter from the business that is applying for business rescue proceedings nominating you as the business rescue practitioner
- Public Interest score (PIS)_of Company (a breakdown of the calculation of the PI score is required) and Industry affiliation
- A statement that you are not disqualified from being appointed as a practitioner in terms of section 138(1) (c), (d), (e) and (f) of the Companies Act 2008
- A letter confirming that you are not under probation and have the capacity to work as a business rescue practitioner
- A declaration that you are independent and have no relationship with the company in rescue
- Tax clearance certificate
Jacqui Smith (LLB)
Legal Advisor
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