IVA Glossary - Recognised Professional Body

Recognised Professional Body An organisation approved by the Secretary of State as being able to authorise its members to act as insolvency practitioners. A body may be recognised if it regulates the practice of a profession and maintains and enforces rules for securing that such of its members as are permitted by or under the rules to act as insolvency practitioners- (a) are fit and proper persons so to act, and (b) meet acceptable requirements as to education and practical training and experience. (Please Note: The definitions are not intended to be exhaustive summaries of the Law. They are based on material from The Insolvency Act 1986 , and other Acts dealing with this subject.) <Back to the glossary

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