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The revised Insolvency Code of Ethics

The fundamental principles and the framework approach in the revised Insolvency Code of Ethics effective from 1 May 2020 are as before, but the new Code looks and feels different with its use of ‘Requirements’ and ‘Application material’.

It also has some new sections, such as the section on the Insolvency Practitioner (IP) as an employee. Some sections have been amended and expanded, including the gifts and hospitality section which is now expanded, both in title and content, to be Inducements, including gifts and hospitality.

One of the most interesting aspects is the ‘NOCLAR’ section.