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Recognised Professional Body (RPB)

Recognised Professional Body (or in short, the RPB) denotes a specific organisation that is approved by the Secretary of State. First of all, this approval implies that a RPB can authorise its members as legal insolvency practitioners. Such a Professional Body is usually responsible for governing and managing professional qualifications as well as for promoting the development of exceptional professional standards. A recognised professional body also has the power to punish its members if a serious mistake committed by them is discovered.

It should be noted that a Body can only become "recognised" if it provides rules and regulations for the practice of certain professions. The Body in question has not only to maintain and control these rules and the adherence to them, but it also has to ensure the following. An organisation that is a Recognised Professional Body must secure that its members who are allowed to be insolvency practitioners comply with the following:

• they have the needed capabilities to be insolvency practitioners and are the proper persons for that position



• if they meet the requirements that refer to the acceptability of the insolvency practitioners (these involve proper education, appropriate practical training as well as adequate experience)

Unless the members of a body meet all the above-described requirements, the Body cannot be recognized as professional, and its members cannot be authorized to act as licensed insolvency practitioners.