Regulation 4 - Eligibility.

Eligibility for insolvency professional registration excludes minors, non residents, convicted persons and those not fit and proper.

Registration as an insolvency professional is precluded for individuals who are minors, non residents, lack required qualifications or experience, have disqualifying convictions (with specified temporal bars and absolute prohibitions), are undischarged insolvents or applicants for insolvency adjudication, have been declared of unsound mind, or are not a fit and proper person. Insolvency professional entities are similarly barred where the entity or any partner or director fails the fit and proper test, which the Board assesses by reference to integrity, reputation, absence of convictions and restraint orders, competence, financial solvency and net worth, and other relevant considerations.