CS Professional · Corporate Restructuring, Valuation and Insolvency · Insolvency
While considering an application from Konkan Insolvency Professionals Association, the Board reviews whether registration would encourage competent insolvency professionals to serve debtors and creditors and would promote good ethical conduct among them. Which of the following is NOT among the principles the Board must have regard to under the Code?
Guaranteeing a registered agency a minimum number of members is not a registration principle. The Board must instead have regard to professional development, competent services, ethical conduct, protecting debtors' and creditors' interests, and promoting agency growth for effective resolution processes.
- APromoting good professional and ethical conduct amongst insolvency professionals
- BProtecting the interests of debtors, creditors and other specified persons
- CPromoting the growth of insolvency professional agencies for effective resolution of insolvency and bankruptcy processes
- DGuaranteeing each registered agency a minimum number of insolvency professional membersCorrect
Explanation
The principles cover professional development and regulation, competent services, ethical conduct, protecting interests of debtors and creditors, and growth of agencies. Nothing guarantees a minimum membership, so option D is not a principle.
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