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Current and superseded Statements of Insolvency Practice for Scotland and Statements of Insolvency Practice for England & Wales and Northern Ireland can be accessed below.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
Statements of insolvency practice England and Wales - current
| Statements of Insolvency Practice England and Wales | 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 3.1 - Individual Voluntary Arrangements | 1 July 2014 |
| SIP 3.2 - Company Voluntary Arrangements | 1 April 2021 |
| SIP 6 - Deemed consent and decision procedures in insolvency proceedings | 6 April 2019 |
| SIP 7 - Presentation of financial information in insolvency proceedings | 1 April 2021 |
With effect from 6 April 2017 SIP8 is withdrawn except for limited liability partnerships when it is withdrawn with effect from 1 January 2018.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 estate | 1 April 2021 |
With effect from 6 April 2017 SIP 10 is withdrawn except for limited liability partnerships where it will be withdrawn effective from 1 January 2018.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SIP 12 - Records of meetings in formal insolvency proceedings With effect from 6 April 2017 SIP 12 is withdrawn except for limited liability partnerships when it is withdrawn with effect from 1 January 2018.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 process | 30 April 2021 |
SIP 14 - A receiver's responsibility to preferential creditors | June 1999 |
R3 guide for creditors; liquidation/creditors’ committees and commissioners | 1 March 2017 1 March 2017 |
| SIP 16 - Pre-packaged sales in administrations | 30 April 2021 |
SIP 17 - An administrative receiver's responsibility for the company's records | 2 May 2011 |
Statements of insolvency practice Scotland - superseded
Statements of insolvency practice Ireland and Northern Ireland - current
Republic of Ireland
Northern Ireland
| Statements of Insolvency Practice Northern Ireland | Effective date |
|---|---|
| SIP 2 - Investigations by office holders in administrations and insolvent liquidations | 1 December 2016 |
| SIP 3.2 - CVAs | 1 April 2021 |
| SIP 7 - Presentation of financial information in insolvency proceedings | 1 April 2021 |
| SIP 9 – Payments to insolvency office holders and their associates from an estate | 1 April 2021 |
SIP 13 - Disposal of assets to connected parties in an insolvency process | 25 June 2021 |
R3 guide for creditors; liquidation/creditors’ committees and commissioners | 1 March 2017 1 March 2017 |
| SIP 16 - Pre-packaged sales in administrations | 25 June 2021 |