May 2011: Accreditation of professions and licensing of business rescue practitioners (25 May update)

[Jan van der Walt]

The following message from CIPC was received by Corporate Renewal Solutions on Friday 20 May 2011 regarding licensing of business rescue practitioners:

"Please note that guidance and information on the filing of requests to be licenced as a business practitioner will shortly be made available on the CIPC website.  It will be appreciated if you can advise your members or clients to submit formal requests in the prescribed manner as will be outlined in the website. "

The date that CIPC will post the Practice Note on its website is expected to be Wednesday 25 May 2011.

On Wednesday 25 2011 a representative of CIPC informed Corporate Renewal Solutions that they are awaiting the Commissioner's signature on the Practice Note.  Business rescue practitioner applications already received, however, are processed and individuals are directly contacted about further information required.

For more information with teething problems with the implementation of business rescue legislation, see Accreditation of professions and licensing of business rescue practitioners.

 

[Jan van der Walt]

As of 09h30 on Friday 27 May 2011 this Practice Note has not yet been published.

[Murray]

Looked again today - no details as yet.

[Jan van der Walt]

My contact at CIPC has been on leave was due back today.  I emailed her last night requesting a status update.

[Basil Pandazis]

Thank you for the update which has been duly noted.

--
You received this message because you are subscribed to the Google Groups "CRS Business Rescue" group.
To view this discussion on the web visit https://groups.google.com/d/msg/crs-business-rescue/-/QkJ0eThreURTOHNK.
To post to this group, send email to crs-busin...@googlegroups.com.
To unsubscribe from this group, send email to crs-business-re...@googlegroups.com.
For more options, visit this group at http://groups.google.com/group/crs-business-rescue?hl=en.

[Basil Pandazis]

Thank you for the update which has been duly noted.

 

--

You received this message because you are subscribed to the Google Groups "CRS Business Rescue" group.

To view this discussion on the web visit https://groups.google.com/d/msg/crs-business-rescue/-/OWZ0azkzVWU0WGtK.

[Jan van der Walt]

Today a representative of CIPC informed me that the Practice Note ought to be published by Friday 10th June 2011.

Applications to be licensed should contain what classification applying for (senior, experienced, junior practitioner), CV (demonstrate experience), references, contact details, certified copies of qualifications, and certified copy of ID.

I was advised to wait for the Practice Note to be published before applying.

This far only 14 applications have been received.

WebRep

Overall rating

 

[Ranzel Louw]

Dear Jan

What is the minimum qualification  to be accepted as  a business  rescue practitioner

 

From: crs-busin...@googlegroups.com [mailto:crs-busin...@googlegroups.com] On Behalf Of Jan van der Walt

Sent: 06 June 2011 01:13 PM
To: crs-busin...@googlegroups.com
Cc: j...@corporate-renewal.co.za

Subject: Business Rescue:11] Re: May 2011: Accreditation of professions and licensing of business rescue practitioners (25 May update)

 

Today a representative of CIPC informed me that the Practice Note ought to be published by Friday 10th June 2011.

Applications to be licensed should contain what classification applying for (senior, experienced, junior practitioner), CV (demonstrate experience), references, contact details, certified copies of qualifications, and certified copy of ID.

I was advised to wait for the Practice Note to be published before applying.

This far only 14 applications have been received.

WebRep

Overall rating

Error! Filename not specified.Error! Filename not specified.Error! Filename not specified.Error! Filename not specified.Error! Filename not specified.

Error! Filename not specified.Error! Filename not specified.Error! Filename not specified.Error! Filename not specified.Error! Filename not specified.

 

--
You received this message because you are subscribed to the Google Groups "CRS Business Rescue" group.

To view this discussion on the web visit https://groups.google.com/d/msg/crs-business-rescue/-/a2FNMUdndFJ3Q0VK.

To post to this group, send email to crs-busin...@googlegroups.com.
To unsubscribe from this group, send email to crs-business-re...@googlegroups.com.
For more options, visit this group at http://groups.google.com/group/crs-business-rescue?hl=en.

CONFIDENTIALITY NOTICE & DISCLAIMER
This communication contains information which is confidential and may also be privileged. It is for the exclusive use of the intended recipient(s). If you are not the intended recipient(s), then please forward to itsu...@tricom1.co.za with 'Received in Error' as the subject and delete this mail and note that any full or partial distribution, copying or use of this communication or the information in it is strictly prohibited. The views contained within this mail are solely those of the author, and do not necessarily represent those of TRICOM Structures (Pty) Ltd, unless specifically stated. Internet e-mails are not necessarily secure. TRICOM Structures (Pty) Ltd does not accept responsibility for changes made to this message after it was sent. Please note that despite using the latest virus software, TRICOM Structures (Pty) Ltd does not accept any responsibility for viruses and it is your responsibility to scan attachments (if any).

[Jan van der Walt]

Ranzel,

I assume you have read section 138, and regulations 126 - 127.

Whilst "business turnaround practice experience" will be used to classify practitioners, there is no explicit mention of specific qualifications e.g. diploma or degree.

If you are a member of soon-to-be accredited profession, however - expected to be attorneys and accountants, you obviously need one of those degrees and professional membership.

WebRep

Overall rating

[Tony Flynn]

Thank you for your e-mails today. A couple of questions if I may. I am in the UK at the moment. When you/they talk about an accredited profession, will they accept members of the ICAEW (Institute of Chartered Accountants in England and Wales). I understand that there are reciprocal arrangements in place with SAICA.
 
Secondly, from my reading of the Act and the Regulations, I don't recall a mention of applicants having to be South African. If this is the case, why the need for a certified copy of ID document? 
 
Regards
Tony Flynn

---

Date: Mon, 6 Jun 2011 07:43:02 -0700
From: j...@corporate-renewal.co.za
To: crs-busin...@googlegroups.com
Subject: Re: RE: Business Rescue:13] Re: May 2011: Accreditation of professions and licensing of business rescue practitioners (25 May update)

--
You received this message because you are subscribed to the Google Groups "CRS Business Rescue" group.

To view this discussion on the web visit https://groups.google.com/d/msg/crs-business-rescue/-/OTJCTHpOOGN6SEVK.

[Jan van der Walt]

Hi Tony,

I have not idea yet of which professions will be accredited.  There is talk of a CIPC workshop in this regard in June.

I suppose non-South Africans will be allowed - see CIPC customer registration - it allows for a foreign ID or passport as an identification method.

Regards

Jan

[Jan van der Walt]

I now understand that BRP applicants  must first register as as CIPC customer.

Step 1: Register as a CIPC customer at CIPC Customer Registration.

Step 2: Log in with your username and password.

Step 3: Deposit R500 into your CIPC virtual bank account. See CIPC Banking Details.

Step 4: Refer to the Practice Note (expected to be published on 10 June) on how to proceed to register.

Regards

Jan

[Jan van der Walt]

Yesterday I received a draft of the Practice Note prescribing how prospective BRPs should apply.

It is substantially in line with what I previously reported.

I was advised to wait for the official Practice Note to be published today before reacting.

[Tony Flynn]

Thanks Jan. I see no practice note was posted on Friday 10 June.
 
Any idea what they might want as a reference? 
 

---

Date: Fri, 10 Jun 2011 05:08:35 -0700
From: j...@corporate-renewal.co.za
To: crs-busin...@googlegroups.com
CC: j...@corporate-renewal.co.za
Subject: Business Rescue:18] Re: May 2011: Accreditation of professions and licensing of business rescue practitioners (25 May update)

Yesterday I received a draft of the Practice Note prescribing how prospective BRPs should apply.

It is substantially in line with what I previously reported.

I was advised to wait for the official Practice Note to be published today before reacting.

--
You received this message because you are subscribed to the Google Groups "CRS Business Rescue" group.

To view this discussion on the web visit https://groups.google.com/d/msg/crs-business-rescue/-/0_fqcYCEfycJ.

[Jan van der Walt]

Tony, we all remain in the dark as to the publication date of the Practice note.  I have a meeting with CIPC end of next week, but let's hope it is published even before that.

Regards

Jan

[Jan van der Walt]

I have been working closely with CIPC over the past few weeks.  I can now report that:

• CIPC is licensing business rescue practitioners on an interim basis.
• CIPC has decided to grant extension and condonation of time limits in regard to appointment of business rescue practitioners.

For more information, see Registration of business rescue practitioners.

Regards

Jan