Skip to content

CS Professional · Corporate Restructuring, Valuation and Insolvency · Role, Functions and Duties of IP, IRP and RP

Which of the following is a function that Section 204 assigns to an insolvency professional agency, rather than to an insolvency professional personally?

Monitoring the performance of its members is a function of an insolvency professional agency under Section 204. Acting in a CIRP, liquidation or fresh start process is instead a function of the insolvency professional under Section 208(1).

  1. ATaking necessary actions in a corporate insolvency resolution process
  2. BMonitoring the performance of its membersCorrect
  3. CTaking necessary actions in the liquidation of a corporate debtor firm
  4. DTaking necessary actions in a fresh start order process

Explanation

Section 204(c) lists monitoring the performance of its members as an IPA function. The other options are functions of an insolvency professional under Section 208(1): CIRP, liquidation and fresh start processes. The distractors confuse the agency with the professional.

Did you get it right without looking?

One question tells you little. A timed set on Role, Functions and Duties of IP, IRP and RP shows your real accuracy, how long you take and where you lose marks.

Practise Role, Functions and Duties of IP, IRP and RPFree diagnostic mock

More Role, Functions and Duties of IP, IRP and RP questions