Who is an Insolvency Practitioner?

An Insolvency Practitioner is a person who is qualified to be appointed as a Receiver, Receiver

Manager or judgment receiver, a liquidator or business rescue administrator. The Registrar will determine whether a person qualifies to be accredited as an Insolvency Practitioner or not in accordance with section 9, 30, 141, and 142 of the Corporate Insolvency Act No. 9 of 2017.

How do I get accredited as an Insolvency Practitioner?

To apply as an Insolvency Practitioner, an individual must be a chartered Accountant or a Legal Practitioner for a period of seven (7) years. A person cannot act as a Business Rescue Administrator, Receiver, or Liquidator of a company without being accredited by the Registrar, and if that individual has been not been practicing as a chartered accountant or as a legal practitioner for a period of at least seven (7) years.

An Applicant needs to fill in an Application for Accreditation or renewal of Accreditation as an Insolvency Practitioner

Supporting document:

  1. Certified copies of professional qualifications; and
  2. Certified copies of current practicing certificates from the Laws Association of Zambia (LAZ) or the Zambia Institute of Chartered Accountants (ZICA)
  3. Certified copy of the National Registration Card
  4. Certificate copy of the Certificate of Admission to the Bar as a Lawyer from LAZ or Certificate of Admission as an Accountant from (ZICA)

How much will this cost me?

  • Accreditation – K1000
  • Renewal – K1000

What do I get?

Certificate of Accreditation as an Insolvency Practitioner