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Statements of insolvency practice (SIPs)

SIPs set principles and key compliance standards with which Insolvency Practitioners are required to comply. They are issued to Insolvency Practitioners under procedures agreed between the authorising bodies acting through the Joint Insolvency Committee.

Current and superseded Statements of Insolvency Practice for Scotland and Statements of Insolvency Practice for England & Wales and Northern Ireland can be accessed below.

Statements of insolvency practice Scotland - current

Scottish Statements of Insolvency Practice Effective date
SIP 1 - An introduction to SIPs 1 October 2015
SIP 2 - Investigations by office holders in administrations and insolvent liquidations 6 April 2016
SIP 3.2 - CVAs1 April 2021
SIP 3.3 - Trust Deeds 1 July 2014
SIP 3.3 - Trust Deeds: updated Bankruptcy (Scotland) Act 2016 references 30 November 2016
SIP 6 - Deemed consent and decision procedures in insolvency proceedings6 April 2019
SIP 7 - Presentation of financial Information in insolvency proceedings1 April 2021

SIP 8 - Conduct at meetings of creditors held pursuant to Section 98 of the Insolvency Act 1986  

With effect from 6 April 2019 SIP 8 is withdrawn except for limited liability partnerships and for certain special insolvency regimes

1 February 2002
SIP 9 - Payments to insolvency office holders and their associates from an estate1 April 2021

SIP 10 - Proxy forms  

With effect from 6 April 2019 SIP 10 is withdrawn except for limited liability partnerships and for certain special insolvency regimes

1 May 1997
SIP 11 - Handling of funds 1 January 2018

SIP 12 - Records of meetings

With effect from 6 April 2019 SIP 12 is withdrawn except for limited liability partnerships and for certain special insolvency regimes

1 May 1997
SIP 13 - Disposal of assets to connected parties in an insolvency process30 April 2021
SIP 14 - A receiver's responsibility to preferential creditors 1 January 2001

SIP 15 - Reporting

R3 guide for creditors; liquidation/creditors’ committees and commissioners

1 March 2017

1 March 2017

SIP 16 - Pre-packaged sales in administrations30 April 2021
SIP 17 - A receiver's responsibility for the company's records 2 May 2011

Statements of insolvency practice England and Wales - current

Statements of Insolvency Practice England and WalesEffective date
SIP 1 - An introduction to SIPs 1 October 2015

SIP 2 - Investigations by office holders in administrations and insolvent liquidations

6 April 2016
SIP 3.1 - Individual Voluntary Arrangements1 March 2023
SIP 3.1 - Individual Voluntary Arrangements1 July 2014
SIP 3.2 - Company Voluntary Arrangements1 April 2021
SIP 6 - Deemed consent and decision procedures in insolvency proceedings6 April 2019
SIP 7 - Presentation of financial information in insolvency proceedings1 April 2021

SIP 8 - Summoning and holding meetings of creditors convened pursuant to S98 of the Insolvency Act 1986

With effect from 6 April 2017 SIP8 is withdrawn except for limited liability partnerships when it is withdrawn with effect from 1 January 2018.  SIP 8 remains in effect for certain special insolvency regimes.

January 2002
SIP 9 – Payments to insolvency office holders and their associates from an estate1 April 2021

SIP 10 - Proxy forms

With effect from 6 April 2017 SIP 10 is withdrawn except for limited liability partnerships where it will be withdrawn effective from 1 January 2018.  SIP 10 remains in effect for certain special insolvency regimes.

August 1996

SIP 11 -The handling of funds in a formal insolvency appointment

1 January 2018

SIP 12 - Records of meetings in formal insolvency proceedings

With effect from 6 April 2017 SIP 12 is withdrawn except for limited liability partnerships when it is withdrawn with effect from 1 January 2018.  SIP 12 remains in effect for certain special insolvency regimes.

August 1996
SIP 13 - Disposal of assets to connected parties in an insolvency process30 April 2021

SIP 14 - A receiver's responsibility to preferential creditors

June 1999

SIP 15 - Reporting

R3 guide for creditors; liquidation/creditors’ committees and commissioners

1 March 2017

1 March 2017

SIP 16 - Pre-packaged sales in administrations30 April 2021

SIP 17 - An administrative receiver's responsibility for the company's records

2 May 2011

Statements of insolvency practice Scotland - superseded

Superseded Scottish Statements of Insolvency Practice Effective date
SIP 1 - An introduction to SIPs

SIP 1 - A receiver's responsibility for the company's records
2 May 2011

1 February 1998

SIP 2 -Investigations by office holders in administrations and insolvent liquidations

2 May 2011
SIP2 - Practical guidance notes – Scotland 1 September 2011
SIP 2 - Liquidator's investigation 1 April 2007
SIP 3A - Trust Deeds   7 December 2009
SIP 3B - Company Voluntary Arrangements 1 April 2007
SIP 3.2 - CVAs1 July 2014
SIP 4 - Disqualification of directors - applies only to insolvency proceedings commenced on or before 5 April 20161 September 1999
SIP 5 - Issued as Insolvency Bulletin No 5 October 2000 
SIP 6 - Issued as Insolvency Bulletin No 6 October 2000 
SIP 7 - Preparation of insolvency office holders receipts and payments accounts 1 September 1999
SIP 7 - Presentation of financial information in insolvency proceedings2 May 2011
SIP 8 - Conduct at meetings of creditors held pursuant to Section 98 of the Insolvency Act 1986 1 February 2002
SIP 9 - Remuneration of insolvency office holders   1 April 2007
SIP 9 - Remuneration of insolvency office holders 1 February 2010
SIP 9 - Payments to insolvency office holders and their associates1 June 2012
SIP 10 - Proxy forms 1 May 1997
SIP 11 - Handling of funds 1 June 2007
SIP 12 - Records of meetings 1 May 1997
SIP 13 - Acquisition of assets by directors 1 August 1998
SIP 13 - Disposal of assets to connected parties in an insolvency process1 December 2016
SIP 14 - A Receiver's responsibility to preferential creditors 1 January 2001
SIP 15 - Reporting1 August 2005
SIP 16 - Pre-packaged administrations 1 January 2009
SIP 16 - Pre-packaged administrations1 November 2013
SIP 16 - Pre-packaged sales in administrations1 November 2015

Statements of insolvency practice Ireland and Northern Ireland - current

Republic of Ireland

Chartered Accountants Ireland

Northern Ireland

Chartered Accountants Ireland

Statements of Insolvency Practice Northern IrelandEffective date
SIP 2 - Investigations by office holders in administrations and insolvent liquidations 1 December 2016
SIP 3.1 - Individual Voluntary Arrangements1 March 2023
SIP 3.2 - CVAs1 April 2021
SIP 7 - Presentation of financial information in insolvency proceedings1 April 2021
SIP 9 – Payments to insolvency office holders and their associates from an estate1 April 2021

SIP 13 - Disposal of assets to connected parties in an insolvency process

25 June 2021

SIP 15 - Reporting

R3 guide for creditors; liquidation/creditors’ committees and commissioners

1 March 2017

1 March 2017
SIP 16  - Pre-packaged sales in administrations25 June 2021
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