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CS Professional · Corporate Restructuring, Valuation and Insolvency · Cross Border Insolvency

Under the Code's principles for registering insolvency professional agencies, which of the following is a principle the Board must have regard to, relevant to the quality of professionals who may later handle cross-border cases?

The Board must have regard to promoting good professional and ethical conduct amongst insolvency professionals. Section 200(c) lists this principle. The section does not guarantee admission, fix uniform fees or limit the country to one agency, since it also promotes agency growth.

  1. APromoting good professional and ethical conduct amongst insolvency professionalsCorrect
  2. BGuaranteeing that every applicant professional is admitted as a member
  3. CEnsuring professionals are paid a fixed uniform fee
  4. DRestricting agencies so that only one agency exists in the country

Explanation

Section 200(c) requires the Board to have regard to promoting good professional and ethical conduct amongst insolvency professionals. The section also includes promoting the growth of agencies, so a single-agency restriction contradicts section 200(e). Nothing prescribes uniform fees or guaranteed admission.

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