Application for License as Business Rescue Practitioner
A person may be appointed as a business rescue practitioner of a company only if that person is a member in good standing of a legal, accounting or business management profession.
A conditional license as a business rescue practioner will only be issued to a person who has been nominated by a company that is financially distressed.
To apply for a license as a business rescue practitioner, follow these steps:
Register as a Customer
To view information on how to register as a customer, click here. If you are already registered as a customer, and know your customer code and password, proceed to step 2.
Service turnaround time: 5 working days after lodging the Notice of Beginning of Business rescue proceedings.
Apply for a license as business rescue practitioner
Print and complete form Cor126.1
Scan and e-mail the completed and signed documents together with supporting information to email@example.com
- The following supporting documents must be included in your e-mail:
- A comprehensive resume containing full and detailed particulars of the applicant’s history and relevant practical experience in business turn around practice
- Certified copies of the qualifications of the applicant;
- Motivation to substantiate the specific group or category that the applicant wishes to be licensed for clearly demonstrating relevant experience for a:
- senior practitioner (combined period of at least 10 years)
- experienced practitioner (combined period of at least 5 years)
- junior practitioner (combined period of less than 5 years)
- Evidence to substantiate the factual information in respect of history and relevant practical experience
- Provide applicable references that relate to the years of experience required for the specific category
- Registration number/s that reflects membership of relevant professional body or bodies
- Certified copy of your Identity Document or Passport
- A letter from the business that is applying for business rescue proceedings that nominates the applicant as the rescue practitioner
- Public Interest score (PIS)_of Company (a breakdown of the calculation of the PI score is required) and Industry affiliation
- A statement that the applicant is not disqualified from being appointed as a practitioner in terms of section 138(1) (c), (d), (e) and (f)
- A letter confirming that the practitioner is not under probation and has the capacity to do the business rescue proceedings
- The practitioner declares that he is independent and has no relationship with the company
- Tax clearance certificate