SIPs (Statements of Insolvency Practice) have been introduced over a number of years to promote and maintain high standards by setting out required practice and harmonising the approach of Insolvency Practitioners to particular aspects of insolvency practice. They apply in parallel to the prevailing statutory framework.
SIP 1 - An introduction to statements of insolvency practice (effective from 1 October 2015)
SIP 2 - Investigations by office holders in administrations and insolvent liquidations and the submission of conduct reports by office holders (effective from 6 April 2016)
SIP 3 - Voluntary arrangements. (Effective 1 April 2007)
SIP 3.1 - Individual voluntary arrangements (Effective 1 July 2014)
SIP 3.2 - Company Voluntary Arrangements (CVA) (Effective 1 April 2021)
SIP 4 - Disqualification of directors
SIP 6 - Decision making in insolvency proceedings (Effective until 1 January 2018)
SIP 6 - Deemed consent and decision procedures in insolvency proceedings
SIP 7 - Presentation of financial information in insolvency proceedings (effective from 1 April 2021)
SIP 9 - Remuneration of insolvency office holders (effective from 6 April 2010)
SIP 9 - Payments to insolvency office holders and their associates (effective from 1 December 2015)
SIP 9 - Remuneration of insolvency office holders (effective until 1 April 2021)
SIP 9 - Payments to insolvency office holders and their associates from an estate (effective from 1 April 2021)
SIP 10 - Proxy forms (effective until 6 April 2017).
SIP 11 - The handling of funds in formal insolvency appointments (effective from 1st January 2018)
SIP 12 - Records of meeting in formal insolvency proceedings. (effective until 6 April 2017).
SIP 13 - Disposal of assets to connected parties in an insolvency process (effective from 1 December 2016)
SIP 13 - Disposal of assets to connected parties in an insolvency process (effective 30 April 2021)
SIP 14 - A receiver's responsibility to preferential creditors.
SIP 15 - Reporting and providing information on their functions to committees and commissioners (effective from 1 March 2017)
SIP 16 - Pre-packaged sales in administrations
SIP 16 - Pre-packaged sales in administrations (effective from 1 November 2015)
SIP 16 - Pre-packaged sales in administrations (effective 30 April 2021)
SIP 17 - An administrative receiver's responsibility for the company's records (effective from 2 May 2011)