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Current and Superseded Statements of Insolvency Practice Scotland and Statements of Insolvency Practice – England & Wales can be accessed below.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

Download Scottish Statements of Insolvency Practice Effective date
SIP 1 - An Introduction to SIPs 1 October 2015
SIP2 - Investigations by Office Holders in Administrations and Insolvent Liquidations 6 April 2016
SIP3.2 - CVAs 1 July 2014
SIP 3.3 - Trust Deeds 1 July 2014
SIP 3.3 - Trust Deeds: Updated BSA 2016 references 30 November 2016
SIP4 - Disqualification of Directors - applies only to insolvency proceedings commenced on or before 5 April 2016 1 September 1999
SIP6 - Statement of Insolvency Practice 66 April 2019
SIP7 - Presentation of Financial Information in Insolvency Proceedings   2 May 2011

SIP8 - 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With effect from 6 April 2019 SIP 8 is withdrawn except for limited liability partnerships and for certain special insolvency regimes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
SIP9 - Payments to Insolvency Office Holders and Their Associates 1 June 2012

SIP10 - 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With effect from 6 April 2019 SIP 10 is withdrawn except for limited liability partnerships and for certain special insolvency regimes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
SIP11 - Handling of Funds 1 January 2018

SIP12 - 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With effect from 6 April 2019 SIP 12 is withdrawn except for limited liability partnerships and for certain special insolvency regimes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
SIP13 - Disposal of assets to connected parties in an insolvency process 1 December 2016
SIP14 - A Receiver's Responsibility to Preferential Creditors 1 January 2001

SIP 15 - Reporting
R3 Guide to Creditors Committees

1 March 2017
1 March 2017
[New] SIP 16 - Pre-Packaged Sales in Administrations 1 November 2015
SIP17 - A Receiver's Responsibility for the Company's Records   (re-numbered SIP 1 issued February 1998) 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 Insolvency Liquidations

6 April 2016
SIP 3.1 - Individual Voluntary Arrangements   1 July 2014
SIP 3.2 - Company Voluntary Arrangements   1 July 2014

SIP 4 - Disqualification of Directors   - applies only to insolvency proceedings commenced on or before 5 April 2016

1 December 1998
SIP 6 - Decision making in insolvency proceedings6 April 2019
SIP 6 - Decision making in insolvency proceedings1 January 2018

SIP 7 - Presentation of Financial Information in insolvency proceedings

 

SIP 8 - Summoning and holding meetings of creditors convened pursuant to Sec 98 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.

 

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] 

SIP 9 - Remuneration of Insolvency Office Holders

 

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.

 

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 process1 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

SIP 15 - Reporting
R3 Guide to Creditors Committees

1 March 2017
[New] SIP 16 - Pre-Packaged Sales in Administrations1 November 2015

SIP 17 - An Administrative Receiver's Responsibility for the Company's Records

Statements of insolvency practice Scotland - Superseded

Superseded Scottish Statements of Insolvency Practice Effective date
SIP 1 - An Introduction to SIPs PDF [31 KB]

SIP 1 - A Receiver's Responsibility for the Company's Records PDF [22 KB]
2 May 2011

1 February 1998

SIP 2 -Investigations by office holders in administrations and insolvent liquidations PDF [26 KB]

2 May 2011
SIP2 - Practical Guidance Notes – Scotland PDF [117 KB] 1 September 2011
SIP 2 - Liquidator's Investigation PDF [162 KB] 1 April 2007
SIP 3A - Trust Deeds  PDF [120 KB] 7 December 2009
SIP 3B - Company Voluntary Arrangements PDF [187 KB] 1 April 2007
SIP 4 - Disqualification of Directors PDF [33 KB] 1 September 1999
SIP 5 - Issued as Insolvency Bulletin No 5 PDF [40 KB] October 2000 
SIP 6 - Issued as Insolvency Bulletin No 6 PDF [18 KB] October 2000 
SIP 7 - Preparation of Insolvency Office Holders Receipts and Payments Accounts PDF [20 KB] 1 September 1999
SIP 8 - Conduct at Meetings of Creditors held pursuant to Section 98 of the Insolvency Act 1986 PDF [52 KB] 1 February 2002
SIP 9 - Remuneration of Insolvency Office Holders  PDF [325 KB] 1 April 2007
SIP 9 - Remuneration of Insolvency Office Holders PDF [275 KB] 1 February 2010
SIP 10 - Proxy Forms PDF [8 KB] 1 May 1997
SIP 11 - Handling of Funds PDF [77 KB] 1 June 2007
SIP 12 - Records of Meetings PDF [79 KB] 1 May 1997
SIP 13 - Acquisition of Assets by Directors PDF [20 KB] 1 August 1998
SIP 14 - A Receiver's Responsibility to Preferential Creditors PDF [24 KB] 1 January 2001
SIP 15 - Reporting PDF [377 KB]1 August 2005
SIP 16 - Pre-Packaged Administrations PDF [111 KB] 1 January 2009
SIP 16 - Pre-Packaged Administrations1 November 2013

Topics

  • Insolvency
  • Legislation

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