In-principle approval for insolvency professional agencies allows limited-duration conditional approval and fee-exempt registration application upon board satisfaction. An applicant to establish an insolvency professional agency may seek in-principle approval by satisfying prescribed conditions and paying a non-refundable ... Summary
In-principle approval for insolvency professional agencies allows limited-duration conditional approval and fee-exempt registration application upon board satisfaction.
An applicant to establish an insolvency professional agency may seek in-principle approval by satisfying prescribed conditions and paying a non-refundable application fee; the Board may grant approval after such inspection or inquiry if it finds the applicant a fit and proper person and that the proposed or existing company can meet registration requirements under Regulation 5(1). The approval is time-limited and may carry conditions, and during its validity the identified company may apply for registration under Regulation 4(1) without paying the registration application fee.
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