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Current and Superseded Statements of Insolvency Practice Scotland and Statements of Insolvency Practice – England & Wales can be accessed below.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 Insolvency Liquidations | 6 April 2016 |
SIP 3.1 - Individual Voluntary Arrangements | 1 July 2014 |
SIP 3.2 - Company Voluntary Arrangements | 1 July 2014 |
1 December 1998 | |
SIP 6 - Decision making in insolvency proceedings | 6 April 2019 |
SIP 6 - Decision making in insolvency proceedings | 1 January 2018 |
SIP 7 - Presentation of Financial Information in insolvency proceedings | |
With effect from 6 April 2017 SIP8 is withdrawn except for limited liability partnerships when it is withdrawn with effect from 1 January 2018.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. | |
SIP 9 – Payments to insolvency office holders and their associates | 1 December 2015 |
SIP 9 - Transitional Arrangements PDF [150 KB] [Valid until 1 December 2015] | |
With effect from 6 April 2017 SIP 10 is withdrawn except for limited liability partnerships where it will be withdrawn effective from 1 January 2018.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. | |
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SIP 12 - Records of Meetings in Formal Insolvency Proceedings With effect from 6 April 2017 SIP 12 is withdrawn except for limited liability partnerships when it is withdrawn with effect from 1 January 2018.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. | |
SIP13 - Disposal of assets to connected parties in an insolvency process | 1 December 2016 |
SIP 13 - Acquisition of Assets of Insolvency Companies by Directors Effective from November 1997 until 30 November 2016. | |
SIP 14 - A Receiver's Responsibility to Preferential Creditors | June 1999 |
1 March 2017 | |
[New] SIP 16 - Pre-Packaged Sales in Administrations | 1 November 2015 |
SIP 17 - An Administrative Receiver's Responsibility for the Company's Records |
Statements of insolvency practice Scotland - Superseded
Statements of insolvency practice Ireland and Northern Ireland - Current
Republic of Ireland
Northern Ireland
SIP2 - Investigations by Office Holders in Administrations and Insolvent Liquidations
SIP13 - Disposal of assets to connected parties in an insolvency process PDF [202 KB] [Effective 1 December 2016]
SIP 15 - Reporting PDF [119 KB]
R3 Guide to Creditors Committees PDF [1,559 KB] [Effective 1 March 2017]