Authorisation for assignment required for insolvency professionals; agencies must notify Board and conflict, employment restrictions apply. An insolvency professional must hold a valid authorisation for assignment issued by an insolvency professional agency to accept or commence assignments after the prescribed cut-off, subject to limited exceptions; agencies must notify the Board within one working day when they issue, renew, suspend, cancel, revoke suspension of, or accept surrender of an authorisation. Professionals must disclose conflicts of interest, refrain from employment while authorised or undertaking assignments, observe post process cooling restrictions on employment and services with certain stakeholders, and must not engage relatives or related parties in assignment related work.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Authorisation for assignment required for insolvency professionals; agencies must notify Board and conflict, employment restrictions apply.
An insolvency professional must hold a valid authorisation for assignment issued by an insolvency professional agency to accept or commence assignments after the prescribed cut-off, subject to limited exceptions; agencies must notify the Board within one working day when they issue, renew, suspend, cancel, revoke suspension of, or accept surrender of an authorisation. Professionals must disclose conflicts of interest, refrain from employment while authorised or undertaking assignments, observe post process cooling restrictions on employment and services with certain stakeholders, and must not engage relatives or related parties in assignment related work.
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