The purpose of 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. SIPs set principles and key compliance standards with which insolvency practitioners are required to comply. They apply in parallel to the prevailing statutory framework.
SIPs are issued to insolvency practitioners under procedures agreed between the insolvency regulatory authorities, acting through the Joint Insolvency Committee.
Please note: There is no SIP 5.
Reproducing the revised Statement of Insolvency Practice 1 (E &W) regarding the administrative receiver’s responsibility for the company’s records in administrative receiverships in England and Wales.
Statement of Insolvency Practice 1 England and Wales. An introduction to Statements of Insolvency Practice. Effective from 2 May 2011. Effective until 1 Oct 2015.
Statement of Insolvency Practice 1 England & Wales - An introduction to statements of insolvency practice. Effective from 1 October 2015.
Statement of Insolvency Practice 2 England and Wales - A liquidator's investigation into the affairs of an insolvent company. Effective from 1 April 2007. Effective until 2 May 2011.
Statement of Insolvency Practice 2 England & Wales - Investigations by office holders in administrations and insolvent liquidations. Effective from 2 May 2011. Effective until 6 April 2016.
Statement of Insolvency Practice 2 England and Wales - Investigations by office holders in administrations and insolvent liquidations and the submission of conduct reports by office holders. Effective from 6 April 2016.
Statement of Insolvency Practice 3 England and Wales - Voluntary arrangements. Effective 1 April 2007.
Statement of Insolvency Practice 3.1 England and Wales - Individual voluntary arrangements. Effective date: Applies to all cases where the nominee is appointed on or after 1 July 2014
Statement of Insolvency Practice 3.1 England and Wales - Individual voluntary arrangements. Effective date: Applies to all cases where the nominee is appointed on or after 1 March 2023
Statement of Insolvency Practice 3.2 England and Wales - Company voluntary arrangements. Effective date: This SIP applies to all cases where the nominee is appointed on or after 1 April 2021.