Statements of Insolvency Practice (SIPs)
To access the Statements of Insolvency Practice please view on the links below:
- SIP 1 - An Introduction to Statements of Insolvency Practice - effective date 1 October 2015
- SIP 1 - introduction to statements of insolvency practice - effective date 2 May 2011 to 30 September 2015
- SIP 2 - Investigations by office holders in administrations and insolvent liquidation and submission of conduct reports by office holders - Effective date 6 April 2016
- SIP 2 - liquidator's investigation into the affairs of an insolvent company - Effective until 5 April 2016
- SIP 3 - Voluntary Arrangements Northern Ireland, England and Wales
- SIP 3.1 - IVAs (Northern Ireland) – effective date 1 July 2014
- SIP 3.2 - CVAs (Northern Ireland) - effective date 1 July 2014
- SIP 3.3 - Trust Deeds (Scotland) - effective date 1 July 2014
- SIP 4 - disqualification of directors
- SIP 6 - Decision making in insolvency proceedings (England and Wales) - effective date 6 April 2017 to 31 December 2017
- SIP 6 - (England and Wales) Deemed Consent and Decision Procedures in Insolvency Proceedings - effective date 1 January 2018
The new Statement of Insolvency Practice (SIP) 6 (England and Wales) takes effect, 6 April 2017, to coincide with the introduction of the Insolvency (England & Wales) Rules 2016.
SIPs 8, 10 & 12 are withdrawn with immediate effect in respect of all appointments in England & Wales, other than in respect of Limited Liability Partnerships and certain other special insolvency regimes (see the Deregulation Act 2015 and Small Business, Enterprise and Employment Act 2015 (Consequential Amendments) (Savings) Regulations 2017 and The Insolvency (England and Wales) Rules 2016 (Consequential Amendments and Savings) Rules 2017) , for which Rule changes are planned to follow in October 2017 should Parliamentary time allow.
- SIP 7 - preparation of insolvency office holders' receipts and payments account
- SIP 8 - summoning and holding meeting of creditors convened pursuant to Article 84 of the Insolvency (Northern Ireland) Order 1989
- SIP 9 - remuneration of insolvency office holders' (Northern Ireland) - effective date 1 April 2007
- SIP 9 - payments to Insolvency office Holders and their associates (England & Wales) - effective date 1 December 2015
- SIP 10 - proxy forms
- SIP 11 - the handling of funds in formal insolvency appointments - effective date 1 June 2007 to 31 December 2017
- SIP 11 - the handling of funds in formal insolvency appointments - effective date 1 January 2018
- SIP 12 - records of meetings in formal insolvency proceedings
- SIP 13 - disposal of assets to connected parties in an insolvency process
- SIP 13 - acquisition of assets of insolvent companies by directors
- SIP 14 - a Receivers responsibility to preferential creditors
- SIP 15 - reporting and providing information on their functions to committees in formal insolvencies
- SIP 15 - reporting and providing information on their functions to committees and commissioners - effective date 1 March 2017
- SIP 16 - prepackaged sales in administrations - effective date 1 November 2013 to 31 October 2015
Following the introduction of the revised SIP 16, the Insolvency Service will cease its monitoring activities and the monitoring of SIP 16 will be carried out by the RPBs. For appointments before 1 November 2015, insolvency practitioners should still send their SIP 16 disclosures to the Insolvency Service.
For all appointments from 1 November 2015 onwards, IPs should send a copy of their disclosure to their own RPB. For joint appointments, only the lead IP needs to send the statement to their RPB, even if the joint appointees are licensed by different bodies.
- SIP 16 Pre-packaged sales in administration - effective date 1 November 2015
- SIP 17 - an administrative reciever's responsibility for the company's records