CIPC Application For License As Business Rescue Practitioner South Africa : Companies & Intellectual Property Commission

Name of the Organization : Companies & Intellectual Property Commission
Type of Facility : Application For License As Business Rescue Practitioner
Location : Cape Town
Country : South Africa

Official Website : https://www.cipc.co.za/

Application For License As Business Rescue Practitioner :

A person may be appointed as a business rescue practitioner of a company only if that person is a member in good standing of a legal, accounting or business management profession.

Related : CIPC File For Business Rescue South Africa : www.statusin.org/4895.html

A conditional license as a business rescue practioner will only be issued to a person who has been nominated by a company that is financially distressed.

To apply for a license as a business rescue practitioner, follow these steps :
Register as a Customer :
To view information on how to register as a customer, click here. If you are already registered as a customer, and know your customer code and password, proceed to step 2.

Deposit funds :
Deposit R500 into the CIPC bank account. For the bank account details, click here.

Service turnaround time : 5 working days after lodging the Notice of Beginning of Business rescue proceedings.

Apply for a license as business rescue practitioner :
Print and complete form Cor126.1
Scan and e-mail the completed and signed documents together with supporting information to businessrescue AT cipc.co.za

The following supporting documents must be included in your e-mail :
** A comprehensive resume containing full and detailed particulars of the applicant’s history and relevant practical experience in business turn around practice
** Certified copies of the qualifications of the applicant;
** Registration number/s that reflects membership of relevant professional body or bodies
** Certified copy of your Identity Document or Passport
** A letter from the business that is applying for business rescue proceedings that nominates the applicant as the rescue practitioner
** Public Interest score (PIS)_of Company (a breakdown of the calculation of the PI score is required) and Industry affiliation
** A statement that the applicant is not disqualified from being appointed as a practitioner in terms of section 138(1) (c), (d), (e) and (f)
** A letter confirming that the practitioner is not under probation and has the capacity to do the business rescue proceedings
** The practitioner declares that he is independent and has no relationship with the company
** Tax clearance certificate

Motivation to substantiate the specific group or category that the applicant wishes to be licensed for clearly demonstrating relevant experience for a :
** senior practitioner (combined period of at least 10 years)
** experienced practitioner (combined period of at least 5 years)
** junior practitioner (combined period of less than 5 years)
** Evidence to substantiate the factual information in respect of history and relevant practical experience
** Provide applicable references that relate to the years of experience required for the specific category

Important :
Queries relating to transactions already lodged should only be submitted once the Service Turnaround Time has lapsed.

You can track the progress of your document by clicking on “Track my transactions” on the home page. Click on “Additional Services”, select “Customers” and then select “Document Status”. To check the tracking number, go to “Customer Transactions” under “Customers”.