CAs in financial difficulty - retention of membership
A Member of ICAS who becomes insolvent will automatically be removed from Membership 14 days from the date of insolvency, unless an application for retention in Membership is submitted.
The ICAS Rules define insolvency as any form or arrangement (statutory or non-statutory) for the purpose of management and repayment of a Member or Affiliate's debts to his or hers creditors, which includes bankruptcy, trust deeds, IVAs and Debt Agreement Schemes (DAS).
If you wish to be retained in Membership, you will need to complete an application form and return it to ICAS within the 14-day timescale. Failure to do so will mean you will be automatically removed from Membership after these 14 days as per ICAS Rule 3.13.2.
The ICAS Investigation Committee and ICAS Council will determine your application. Further information on the retention process can be found within ICAS' Admission Regulations and Retention Application Guide below.
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