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Involuntary individual arrangement (IVA) – what you need to do
If you enter into an IVA, your practising certificate or registration will not be suspended.
If you are considering entering into an IVA, or have done so, you should notify us, explaining when you are likely to enter into the IVA/PVA.
What we will do
We will consider whether to impose conditions on how you may practise once you enter into an IVA/PVA.
Conditions may involve you being able to work
as an assistant,
as a consultant,
as a manager of somewhere we have approved,
while having to deliver accountant's reports twice a year,
with restrictions on handling clients' money.
How to notify us you are entering an IVA
You must notify us by writing to us.
If you are currently working as a solicitor, REL or RFL tell us what your plans are, as we can take them into account.
Send us a copy of your IVA/PVA when you have it.
Once you have notified us, we will consider whether to impose conditions in respect of your practising certificate or registration.