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Annual renewal requirements

With effect from 2015, the registration period of the specialist designation in insolvency ("SD (Insolvency)") is for each year to 31 December and is renewable annually.

 

An application for renewal of SD (Insolvency) shall be made to the registrar of the Institute not later than 15 December in the year of renewal.

 

To be eligible for renewal of SD (Insolvency), the holder of SD (Insolvency) needs to:

  • continue to be a member of the Institute in good standing;
  • have continuing work experience in the field of insolvency based on 800 qualifying hours (Note 1) obtained in Hong Kong, including 200 hours of higher experience (Note 2), in each four-year period after being awarded the SD (Insolvency);
  • comply with the continuing professional development requirement for SD (Insolvency) holders, being a minimum of five hours per year of verifiable CPD relating to insolvency; and 
  • pay the annual SD (Insolvency) renewal fee.

 

Click for FAQs

 

Notes:

1.

"Qualifying hours" means chargeable hours worked directly on a file related to insolvency engagements, including case management but excluding clerical duties.

  • Time spent on practice matters cannot be counted as qualifying hours, e.g. administration, management, development, and marketing.
  • Time spent on teaching (including preparation time) the Institute’s Insolvency programmes, conducting lectures and research work in universities, conducting seminars and writing articles of insolvency topics for relevant professional institutes or journals and participating in relevant committees of the Institute should be limited to not more than 10 percent of the required minimum total qualifying hours.
  • Experience gained in other jurisdictions should be relevant, equivalent experience to that required for the experience in Hong Kong.

2.

"Higher experience" in insolvency administration refers to work that involves the management or supervision of the conduct of cases as or on behalf of the appointment taker of an engagement. The engagement can be a corporate insolvency, or a personal insolvency, or a rescue and restructuring engagement.

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