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:
- Certified copies of professional qualifications; and
- Certified copies of current practicing certificates from the Laws Association of Zambia (LAZ) or the Zambia Institute of Chartered Accountants (ZICA)
- Certified copy of the National Registration Card
- 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