ICAS

Quicklinks

  1. About Us

    Find out about who we are and what we do here at ICAS.

  2. Find a CA

    Search our directory of individual CAs and Member organisations by name, location and professional criteria.

  3. CA Magazine

    View the latest issues of the dedicated magazine for ICAS Chartered Accountants.

  4. Contact Us

    Get in touch with ICAS by phone, email or post, with dedicated contacts for Members, Students and firms.

Login
  • Annual renewal
  • About us
  • Contact us
  • Find a CA
  1. About us
    1. Governance
    2. ICAS Strategy 2030
  2. Members
    1. Become a member
    2. Newly qualified
    3. Manage my membership
    4. Benefits of membership
    5. Career support
    6. Mentoring
    7. CA Wellbeing
    8. More for Members
    9. Area networks
    10. International communities
    11. Get involved
    12. Top Young CAs
    13. Career breaks
    14. ICAS podcast
    15. Newly admitted members 2022
    16. Newly admitted members 2023
  3. CA Students
    1. Student information
    2. Student resources
    3. Learning requirements
    4. Learning updates
    5. Learning blog
    6. Totum Pro | Student discount card
    7. CA Student wellbeing
  4. Become a CA
    1. How to become a CA
    2. Routes to becoming a CA
    3. CA Stories
    4. Find a training agreement
    5. Why become a CA
    6. Qualification information
    7. University exemptions
  5. Employers
    1. Become an Authorised Training Office
    2. Resources for Authorised Training Offices
    3. Professional entry
    4. Apprenticeships
    5. Learning redefined
  6. Find a CA
  7. ICAS events
    1. CA Summit
  8. CA magazine
  9. Insight
    1. Finance + Trust
    2. Technology
    3. Finance + EDI
    4. Finance + Mental Fitness
    5. Finance + Leadership
    6. Finance + Sustainability
  10. Professional resources
    1. Anti-money laundering
    2. Audit and assurance
    3. Brexit
    4. Business and governance
    5. Charities
    6. Coronavirus
    7. Corporate and financial reporting
    8. Cyber security
    9. Ethics
    10. Insolvency
    11. ICAS Research
    12. Pensions
    13. Practice
    14. Public sector
    15. Sustainability
    16. Tax
  11. CPD - professional development
    1. CPD - Everything you need to know
    2. CPD courses and qualifications
    3. CPD news and updates
    4. CPD support and advice
    5. Career support
  12. Regulation
    1. Complaints and sanctions
    2. Regulatory authorisations
    3. Guidance and help sheets
    4. Regulatory monitoring
  13. CA jobs
    1. CA jobs partner: Rutherford Cross
    2. Resources for your job search
    3. Advertise with CA jobs
    4. Hays | A Trusted ICAS CA Jobs Partner
    5. Azets | What's your ambition?
  14. Work at ICAS
    1. Business centres
    2. Meet our team
    3. Benefits
    4. Vacancies
    5. Imagine your career at ICAS
  15. Contact us
    1. Technical and regulation queries
    2. ICAS logo request

Information for ICAS Members continuing or taking new insolvency appointments in Ireland following the Brexit transition period

  • LinkedIn (opens new window)
  • Twitter (opens new window)
Steven Wood By Steven Wood, Practice Support Specialist (Insolvency)

19 October 2020

  • Brexit transition period ends on 31 December 2020.
  • As matters stand there should be no impact the ability of ICAS members to continue current, or take new, insolvency appointments in the Republic of Ireland at the conclusion of the Brexit transition period on 31 December 2020.

Brexit finally took place on 31 January 2020, with the withdrawal agreement including a transition period through to 31 December 2020.

Following a number of Member enquiries, Steven Wood sets out the position for UK-based Members continuing, or taking new, insolvency appointments in the Republic of Ireland after the Brexit transition period ends on 31 December 2020.

Liquidation

To act as a liquidator a person must fall within of paragraph of the table to section 633 of the Companies Act 2014 (CA2014).

In summary those qualifications are:

  1. Member of prescribed accountancy body
  2. Practising solicitor
  3. Member of professional body recognised by IAASA
  4. Person qualified under the laws of other EEA state
  5. Person of practical experience

There are also specific disqualifications set out at section 635 of CA2014.

ICAS is a ‘prescribed accountancy body’ for the purposes of the first paragraph of section 635. Therefore, in the absence of any legislative changes, any member of ICAS who holds a current practising certificate and is not prohibited by ICAS from acting, will see no impact on their ability to continue current, or take new, liquidation appointments in the Republic of Ireland post-Brexit transition period.

This applies to all forms of liquidation – Members voluntary winding up, creditors voluntary winding up and court liquidation.

Receivership

There are no positive qualification requirements for acting as a Receiver set out in CA2014. The only qualifications are the negative ones set out at Section 433, namely that a person cannot be:

  • an undischarged bankrupt;
  • a person who is, or has been within 12 months of the commencement of the receivership, an officer or employee of the company;
  • a parent, spouse, civil partner, brother, sister or child of an officer of the company;
  • a person who is a partner of or in the employment of an officer or employee of the company;
  • a person who is not qualified by virtue of Section 433(1) for appointment as a receiver of the property of any other body corporate which is that company’s subsidiary or holding company or a subsidiary of that company’s holding company or would be so disqualified if the body corporate were a company;
  • a body corporate.

As with liquidations, in the absence of any legislative changes, ICAS Members will see no impact on their ability to continue current, or take new, receivership appointments in the Republic of Ireland after 31 December 2020.

Examinership

Section 519 of CA2014 sets out that a person shall not be qualified to be appointed or act as an examiner of a company unless he or she would be qualified to act as its liquidator (disregarding the requirements concerning professional indemnity cover).

Therefore, the comments above in relation to liquidation appointments apply equally to examinership appointments.

Personal insolvency

The Personal Insolvency Act 2012 (Authorisation and Supervision of Personal Insolvency Practitioners) Regulations 2013 set out the qualification criteria, authorisation requirements and regulatory standards that must be met for an individual to be authorised to carry on the practice of a Personal Insolvency Practitioner.

An individual may make an application to carry on practice as a Personal Insolvency Practitioner if that individual:

  • is a Solicitor in respect of whom a practising certificate (within the meaning of the Solicitors Acts 1954 to 2011) is in force;
  • is a Barrister at law called to the Bar of Ireland;
  • is a qualified Accountant and a member of a prescribed accountancy body (within the meaning of section 4 of the Companies (Auditing and Accounting) Act 2003;
  • is a Qualified Financial Advisor who holds a current qualification from the Life Insurance Association of Ireland (LIA), the Insurance Institute or the Institute of Bankers School of Professional Finance; or
  • holds a qualification in law, business, finance or other appropriate similar qualification to the satisfaction of the Insolvency Service recognised to at least level 7 of the National Qualifications Framework by Quality and Qualifications Ireland (or equivalent).

Again, ICAS is a ‘prescribed accountancy body’ for the purpose of the Regulations. Therefore, once again assuming that there are no legislative changes, and the other standards set by the Insolvency Service of Ireland are met, there should be no impact on the ability of ICAS Members to continue current, or take new, personal insolvency appointments in the Republic of Ireland post-31 December 2020.

Summary

As matters stand there should be no impact the ability of ICAS Members to continue current, or take new, insolvency appointments in the Republic of Ireland at the conclusion of the Brexit transition period on 31 December 2020.


Visit the ICAS Brexit hub – a central source of information and resources for Members, practice and business.

Brexit

Remain up-to-date with all the latest Brexit-related news and resources for Chartered Accountants.

Insolvency

Browse all the top insolvency-related technical updates, issues and news for Chartered Accountants.

2023-06-CA-Magazine 2023-06-CA-Magazine

Footer links

  • Contact us
  • Terms and conditions
  • Modern slavery statement
  • Privacy notice
  • CA magazine

Connect with ICAS

  • Facebook (opens new window) Facebook Icon
  • Twitter (opens new window) Twitter Icon
  • LinkedIn (opens new window) LinkedIn Icon
  • Instagram (opens new window) Instagram Icon

ICAS is a member of the following bodies

  • Consultative Committee of Accountancy Bodies (opens new window) Consultative Committee of Accountancy Bodies logo
  • Chartered Accountants Worldwide (opens new window) Chartered Accountants Worldwide logo
  • Global Accounting Alliance (opens new window) Global Accounting Alliance
  • International Federation of Accountants (opens new window) IFAC
  • Access Accountancy (opens new window) Access Acountancy

Charities

  • ICAS Foundation (opens new window) ICAS Foundation
  • SCABA (opens new window) scaba

Accreditations

  • ISO 9001 - RGB (opens new window)
© ICAS 2022

The mark and designation “CA” is a registered trade mark of The Institute of Chartered Accountants of Scotland (ICAS), and is available for use in the UK and EU only to members of ICAS. If you are not a member of ICAS, you should not use the “CA” mark and designation in the UK or EU in relation to accountancy, tax or insolvency services. The mark and designation “Chartered Accountant” is a registered trade mark of ICAS, the Institute of Chartered Accountants of England and Wales and Chartered Accountants Ireland. If you are not a member of one of these organisations, you should not use the “Chartered Accountant” mark and designation in the UK or EU in relation to these services. Further restrictions on the use of these marks also apply where you are a member.

Our cookie policy

ICAS.com uses cookies which are essential for our website to work. We would also like to use analytical cookies to help us improve our website and your user experience. Any data collected is anonymised. Please have a look at the further information in our cookie policy and confirm if you are happy for us to use analytical cookies: