Statements of insolvency practice

The purpose of Statements of Insolvency Practice (SIPs) is to promote and maintain high standards by setting out required practice and harmonising the approach of Insolvency
Practitioners to particular aspects of insolvency practice. They apply in parallel to the prevailing statutory framework.

Statements of Insolvency Practice (SIPs)

To access the Statements of Insolvency Practice please view on the links below:

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SIPs 8, 10 & 12 are withdrawn with immediate effect in respect of all appointments in England & Wales, other than in respect of Limited Liability Partnerships and certain other special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.

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.


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