JIEB statement: November 2017 exam

Office buildings
By David Menzies, Director of Insolvency

26 August 2016

The Joint Insolvency Examination Board has issued the following statement regarding the new Insolvency Rules and the 2017 Exam.

Although a formal announcement has not yet been made, the Joint Insolvency Examination Board ('the Board') understands that, subject to Ministerial approval, the modernised and consolidated Insolvency Rules ('the New Rules') will be made in the Autumn of 2016 and come into force during April 2017.

The Board operates a policy under which the Examination each November examines only that legislation which is in force on the immediately preceding 30th April. Accordingly, if the timetable  outlined above is met and the New Rules come into force at any time up to 30th April 2017, the usual policy will apply and the New Rules will be examinable at the November 2017 sitting of the Examination.

The Board has considered what should happen if the above timetable is not met and the New Rules come into force after 30th April 2017.

Exceptionally, the Board has decided that, if the New Rules come into force on any date between 1st May 2017 and 31st July 2017, they will be examinable at the November 2017 sitting of the Examination. If the New Rules come into force at any time after 31st July 2017 they will not be examinable in 2017.

The exception for the November 2017 sitting of the Examination as set out in the preceding paragraph will apply only to the New Rules. It will not apply to other legislation where, in all cases, the usual cut off date of 30th April 2017 will apply.

Topics

  • CPD
  • Insolvency

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