CORPORATE INSOLVENCY ACT: SUBSIDIARY LEGISLATION

(1) A person who wishes to practice as an insolvency practitioner shall apply for accreditation or renewal of accreditation as an insolvency practitioner in Form I set out in the Schedule, on payment of the fee set out in the Corporate Insolvency (Form and Fees) Regulations, 2019.

[Reg 2(1) am by reg 2 of SI 22 of 2022.]

(2) The Registrar shall, within 14 days of receipt of an application for accreditation-

(a) grant accreditation where the applicant meets the requirements; or

(b) reject the application where the applicant does not meet the requirements.

(3) The Registrar shall, where the Registrar rejects an application in accordance with sub-regulation (2)(b), inform the applicant of the reasons for rejection.

2A. Revocation of accreditation of insolvency practitioner

(1) The Registrar shall revoke the accreditation of an insolvency practitioner if-

(a) the insolvency practitioner-

(i) is no longer a member of, or has been suspended by, the accounting or legal professional body;

(ii) fails to comply with any provision of the Act; and

(iii) furnishes the Registrar or Official Receiver with false, inaccurate or misleading information; and

(b) if one or more engagements carried out by the insolvency practitioner are being, or have not been, carried out-

(i) in accordance with the provisions of the appointing order specified by the Court; or

(ii) with reasonable care, diligence and skill.

(2) The Registrar may, in addition to the conditions specified under sub-regulation (1), revoke the accreditation in public interest.

(3) Subject to sub-regulation (4), the Registrar shall, before revoking the accreditation, give notice to an insolvency practitioner of the intention to revoke the accreditation in Form II set out in the Schedule.

(4) Sub-regulation (3) shall not apply where the revocation of accreditation is made in accordance with sub-regulation (2).

(5) The Registrar shall, where the insolvency practitioner fails to remedy the breaches specified in the notice within the period specified by the Registrar, revoke the accreditation and notify the insolvency practitioner in Form III set out in the Schedule.

(6) The Registrar shall, where the Registrar revokes the accreditation of an insolvency practitioner under this regulation, lodge a copy of the notice of revocation with the person who, or Court that, appointed the insolvency practitioner.

[Reg 2A ins by reg 3 of SI 22 of 2022.]

2B. Variation of accreditation

(1) A person who intends to vary the accreditation shall apply to the Registrar in Form IV set out in the Schedule.

(2) The Registrar shall, within 30 days of the date of receipt of an application for the variation of the accreditation, consider the application and notify the accredited insolvency practitioner of the Registrar's decision.

[Reg 2B ins by reg 3 of SI 22 of 2022.]

3. Terms and conditions attaching to accreditation number and accreditation certificate

An accredited insolvency practitioner shall-

(a) reflect the accreditation number on documents generated by that insolvency practitioner; and

(b) display the accreditation certificate at a conspicuous place at the practitioner's usual place of business.

4. Renewal of accreditation

(1) An insolvency practitioner may apply for renewal of accreditation with the Registrar three months before the expiry of the current accreditation.

(2) The Registrar may approve or reject an application for renewal of accreditation.

(3) The Registrar may reject an application for renewal or accreditation where the Registrar determines that the requirements of the Act have not been met.

(4) The Registrar shall furnish the applicant with reasons for rejecting an application for renewal, and where possible, request the applicant to remedy the cause of the rejection within a specific period.

5. Publication of names of accredited insolvency practitioners

The Registrar shall publish annually in the Gazette, and on the Agency's website or in a daily newspaper of general circulation, the names and addresses of accredited insolvency practitioners.

SCHEDULE

[Sch am by reg 4 of SI 22 of 2022.]

FORM I

[Regulation 2]

(In typescript and completed in duplicate)

The Patents and Companies Registration Agency

The Corporate Insolvency Act
(Act No. 9 of 2017)

The Corporate Insolvency (Insolvency Practitioner Accreditation) Regulations, 2019
(Section 142)

Available at <WW:Web,"http://www.pacra.org.zm">www.pacra.org.zm

APPLICATION FOR ACCREDITATION OR RENEWAL OF ACCREDITATION AS INSOLVENCY PRACTITIONER
PART A APPLICANT DETAILS
1.	First Name
2.	Surname
3.	Gender
4.	Date of Birth
5.	Nationality
6.	Identity Type For Zambians: NRC For non-Zambians: NRC/Passport/ Driver's License/ Resident Permit
7.	Identity Number
8.	Physical Address	Plot/House/Village
Street
Area
Town
Province
Country
9.	Postal Address	Post Box Number
Town
Province
Country
10.	Phone Number Include the international code (e.g. +260 for Zambia)	Mobile
Landline
11.	E-mail Address

{mprestriction ids="2,3,5"}

PART B APPLICATION DETAILS
12.	Type of Application Select type of application by marking with "X"	Application for Accreditation	Indicate whether the application is for accreditation or renewal
Renewal of Accreditation
13.	Accreditation Number Applicable for Renewal
	PART C PROFESSIONAL DETAILS
14.	Profession Select type of profession by marking with "X"	Legal Practitioner
Chartered Accountant
15.	Membership Number Valid membership number from professional body
16.	Date admitted to Professional Body Date of being admitted to professional body
17.	Qualifications of Applicant
PART D DECLARATION
I, the undersigned, declare that the above information is true and correct.
First Name:
Surname:
Capacity:
Signature: ........................................... Date: ................................................
Attach certified copies of identity document, professional and academic qualifications

FORM II

[Regulation 2A]

The Patents and Companies Registration Agency

The Corporate Insolvency Act, 2017
(Act No. 9 of 2017)

The Corporate Insolvency (Insolvency Practitioner Accreditation) Regulations, 2022

NOTICE OF INTENTION TO REVOKE ACCREDITATION

(1) Here insert name of insolvency practitioner	To (1) .....................................................................................................
..............................................................................................................
(2) Here insert number of accreditation	IN THE MATTER OF (2) ...................................................................... you are hereby notified that the Registrar intends to revoke your accreditation on the following grounds:
	(a) .........................................................................................................
	(b) .........................................................................................................
	(c) .........................................................................................................
	(d) .........................................................................................................
	Accordingly, you are requested to show cause why your accreditation should not be revoked for the breaches set out in paragraph ......... (above) within (3) .......... days of receiving this notice. Failure to remedy the said breaches shall result in the revocation of your accreditation.

	Dated this ..... day of ......................, 20...

...........................................
Registrar

FORM III

[Regulation 2A]

The Patents and Companies Registration Agency

The Corporate Insolvency Act, 2017
(Act No. 9 of 2017)

The Corporate Insolvency (Insolvency Practitioner Accreditation) Regulations, 2022

NOTICE OF REVOCATION OF ACCREDITATION

(1) Here insert name of insolvency practitioner	To (1) .....................................................................................................
..............................................................................................................
(2) Here insert number of accreditation	IN THE MATTER OF (2) ....................................................................... you are hereby notified that the Registrar revokes your accreditation on the following grounds:
	(a) .........................................................................................................
	(b) .........................................................................................................
	(c) .........................................................................................................
	(d) .........................................................................................................
	You are required to surrender the certificate of accreditation to the Registrar immediately.
	Dated this ...... day of ......................., 20.....

................................................... Registrar
(See Terms and Conditions of Revocation of Accreditation Notes overleaf)
TERMS AND CONDITIONS OF REVOCATION OF ACCREDITATION
An insolvency practitioner shall, where the Registrar revokes the accreditation of that insolvency practitioner-
(a) be disqualified from acting as an insolvency practitioner under the Act;
(b) cease to carry out any functions arising from an appointment order made under the Act or any other written law; and
(c) cause the preparation of a report on the statement of the company's affairs to be made to the Registrar within fourteen days of the revocation of accreditation.

FORM IV

[Regulation 2B]

The Patents and Companies Registration Agency

The Corporate Insolvency Act, 2017
(Act No. 9 of 2017)

The Corporate Insolvency (Insolvency Practitioner Accreditation) Regulations, 2022

APPLICATION FOR VARIATION OF ACCREDITATION
Please write in BLOCK LETTERS	Shaded fields for official use only	Application No.: Date/Time
Information Required	Information Provided
	PART I TO BE COMPLETED BY APPLICANT
1.	Name(s) of Applicant:
Plot No.:
Street:
Postal Address:
Telephone No.:
Mobile Phone No.:
E-mail Address:
Town:
District:
Province:
Country:
PART II TYPE OF VARIATION
2.	PARTICULARS OF VARIATION	DESCRIPTION OF VARIATION
	(a)
	(b)
	(c)
3.	EXISTING	PROPOSED VARIATION	REASONS FOR VARIATION

4.	Attachment
	Relevant documents relating to proposed variation as required by the Registrar
	DECLARATION AND SIGNATURE
I declare that all the information I have stated is correct and truthful to the best of my knowledge and belief.
............................................................. Name	............................................... Designation
............................................................. Signature	............................................... Date
FOR OFFICIAL USE ONLY
Date of Submission: ................................................................................................................
Application Number: ................................................................................................................
Payment Receipt No.: .............................................................................................................
Application accepted (Proceed for inspection): ...........................................................................
Application rejected (Notify applicant): .......................................................................................
................................................... Registrar

CORPORATE INSOLVENCY (FORMS AND FEES) REGULATIONS

[Sections 9, 11, 16, 97 and 179]

Arrangement of Regulations

Regulation

1. Title

2. Notice of appointment as receiver, liquidator or business rescue administrator

3. Notice of cessation as receiver

4. Notice of change of location of liquidator's office, electronic mail and postal address

5. Notice to dispose of company assets by receiver or liquidator

6. Notice of business rescue proceedings to affected persons

7. Notice of substantial implementation of business rescue plan

8. Notice of termination of business rescue proceedings

9. Return of final winding up meeting and dissolution of company

10. Certificate of accreditation as insolvency practitioner

11. Notice of lodgment

12. Fee payable to receiver, business rescue administrator or liquidator

13. Service of documents

14. Fees

FIRST SCHEDULE

SECOND SCHEDULE

SI 41 of 2019.

1. Title

These Regulations may be cited as the Corporate Insolvency (Forms and Fees) Regulations.

2. Notice of appointment as receiver, liquidator or business rescue administrator

A person shall, after appointing a receiver, liquidator or business rescue administrator lodge with the Registrar a notice of appointment as a receiver, liquidator or business rescue administrator in Form I set out in the First Schedule, on payment of the fee set out in the Second Schedule.

3. Notice of cessation as receiver

A person who ceases to be a receiver shall lodge with the Registrar a notice of cessation as a receiver in Form II set out in the First Schedule, on payment of the prescribed fee set out in the Second Schedule.

4. Notice of change of location of liquidator's office, electronic mail and postal address

A liquidator who changes that liquidator's location or postal address shall lodge with the Registrar and Official Receiver a notice of change of location, postal or electronic mail address of the liquidator in Form III set out in the First Schedule, on payment of the fee set out in the Second Schedule.

5. Notice to dispose of company assets by receiver or liquidator

A receiver or liquidator shall lodge with the Registrar a notice to dispose of company assets in Form IV set out in the First Schedule, on payment of the fee set out in the Second Schedule.

6. Notice of business rescue proceedings to affected persons

(1) A company or an affected person, as the case may be shall give notice to affected persons that-

(a) a special resolution was made to commence business rescue proceedings; or

(b) a court action has been commenced-

(i) against the resolution to place the company under supervision and begin business rescue proceedings;

(ii) against the appointment of the business rescue administrator;

(iii) to require the business rescue administrator to provide security; or

(iv) for an order to place the company under supervision and begin business rescue proceedings.

(2) The notice referred to in sub-regulation (1) shall be in Form V set out in the First Schedule, on payment of the fee set out in the Second Schedule.

7. Notice of substantial implementation of business rescue plan

A business rescue administrator shall give notice to the Registrar and the Official Receiver of substantial implementation of a business rescue plan in Form VI set out in the First Schedule, on payment of the fee set out in the Second Schedule.

8. Notice of termination of business rescue proceedings

A business rescue administrator shall, where there are no reasonable grounds to believe that the company is financially distressed or a business rescue plan is rejected and no further action is taken, notify the Registrar of the termination of the business rescue proceedings in Form VII set out in the First Schedule, on payment of the fee set out in the Second Schedule.

9. Return of final winding up meeting and dissolution of company

A liquidator shall lodge with the Registrar and the Official Receiver a return of a final winding up meeting and dissolution of a company in Form VIII set out in the First Schedule on payment of the fee set out in the Second Schedule.

10. Certificate of accreditation as insolvency practitioner

A certificate of accreditation as an insolvency practitioner is set out in Form IX in the First Schedule.

11. Notice of lodgment

A person shall, where a document to be filed with the Registrar has no prescribed form, lodge the document with a notice of lodgment in Form X set out in the First Schedule on payment of the fee set out in the Second Schedule.

12. Fee payable to receiver, business rescue administrator or liquidator

(1) A receiver, business rescue administrator or liquidator shall, on taking instructions, agree with the client, the fee payable.

(2) Despite sub-regulation (1), the fee payable to a receiver, business rescue administrator or liquidator shall not exceed-

(a) ten per cent of the net proceeds of receivership or liquidation; and

(b) five per cent of the net assets of the company in the case of business rescue.

(3) In this regulation-

"net asset" has the meaning assigned to the words in the Companies Act, 2017; and

"net proceeds" means gross proceeds of the receivership or liquidation less expenses and disbursements.

13. Service of documents

(1) A document required to be served under these Regulations shall be served personally or electronically.

(2) Where personal service of documents cannot be effected, service of documents shall be at the affected person's dwelling place or on the affected person's designated agent and in case of a company, at the registered office or personally serving a director or secretary of the company.

(3) Where a document is served electronically-

(a) transmission shall contain a notice, in writing, explaining the contents of the document;

(b) document is deemed to have been received when it arrives at the server for incoming communications in connection with which the user identification or signature of the person to be served is associated; and

14. Fees

The fees set out in the Second Schedule are payable in respect of the matters specified therein.

FIRST SCHEDULE

[Regulations 2, 3, 4, 5, 6, 7, 8, 9, 10 and 11]

Form I

[Regulation 2]

(In typescript and completed in duplicate)

THE PATENTS AND COMPANIES REGISTRATION AGENCY

The Corporate Insolvency Act
(Act No. 9 of 2017)

The Corporate Insolvency (Forms and Fees) Regulations, 2019

(Sections 5, 21 and 92)

Form II

[Regulation 3]

(In typescript and completed in duplicate)

THE PATENTS AND COMPANIES REGISTRATION AGENCY

The Corporate Insolvency Act
(Act No. 9 of 2017)

The Corporate Insolvency (Forms and Fees) Regulations, 2019

(Sections 5 and 20)

Form III

[Regulation 4]

(In typescript and completed in duplicate)

THE PATENTS AND COMPANIES REGISTRATION AGENCY

The Corporate Insolvency Act
(Act No. 9 of 2017)

The Corporate Insolvency (Forms and Fees) Regulations, 2019

(Section 118)

Form IV

[Regulation 5]

(In typescript and completed in duplicate)

THE PATENTS AND COMPANIES REGISTRATION AGENCY

The Corporate Insolvency Act
(Act No. 9 of 2017)

The Corporate Insolvency (Forms and Fees) Regulations, 2019

(Sections 16 and 115)

Form V

[Regulation 6]

(In typescript and completed in duplicate)

THE PATENTS AND COMPANIES REGISTRATION AGENCY

The Corporate Insolvency Act
(Act No. 9 of 2017)

The Corporate Insolvency (Forms and Fees) Regulations, 2019

(Sections 21 and 23)

Form VI

[Regulation 7]

(In typescript and completed in duplicate)

THE PATENTS AND COMPANIES REGISTRATION AGENCY

The Corporate Insolvency Act
(Act No. 9 of 2017)

The Corporate Insolvency (Forms and Fees) Regulations, 2019

(Section 43)

Form VII

[Regulation 8]

(In typescript and completed in duplicate)

THE PATENTS AND COMPANIES REGISTRATION AGENCY

The Corporate Insolvency Act
(Act No. 9 of 2017)

The Corporate Insolvency (Forms and Fees) Regulations, 2019

(Sections 33 and 44)

Form VIII

[Regulation 9]

(In typescript and completed in duplicate)

THE PATENTS AND COMPANIES REGISTRATION AGENCY

The Corporate Insolvency Act
(Act No. 9 of 2017)

The Corporate Insolvency (Forms and Fees) Regulations, 2019

(Section 105)

Form IX

[Regulation 10]

(In typescript and completed in duplicate)

REPUBLIC OF ZAMBIA

The Corporate Insolvency Act
(Act No. 9 of 2017)

The Corporate Insolvency (Forms and Fees) Regulations, 2019

(Section 142)

Accreditation No.: ..............

CERTIFICATE OF ACCREDITATION AS INSOLVENCY PRACTITIONER

I HEREBY CERTIFY that ....................... has this ....................... day of........................ been duly accredited to practice as an Insolvency Practitioner under the Corporate Insolvency Act No. 9 of 2017 under accreditation number ....................... from this ....................... day of ................., 20....... to the ........................... day of ......................., 20..........

Given under my hand at Lusaka, Zambia, this .............. day of .........................., 20........

..........................................
Registrar

Form X

[Regulation 11]

(In typescript and completed in duplicate)

THE PATENTS AND COMPANIES REGISTRATION AGENCY

The Corporate Insolvency Act
(Act No. 9 of 2017)

The Corporate Insolvency (Forms and Fees) Regulations, 2019

SECOND SCHEDULE

[Regulation 14]

PRESCRIBED FEES

		Fee unit
1.	Application for accreditation or renewal of accreditation as insolvency practitioner	3,333.33
2.	Notice of appointment as receiver	3,833.03
3.	Notice of appointment as business rescue administrator	1,500.00
4.	Lodgment of certified copy of resolution relating to the appointment or cessation of liquidator	3,833.00
5.	Notice of cessation as receiver	3,833.00
6.	Notice of change of location and postal address of liquidator	666.67
7.	Lodgment of statement of company affairs or statutory declaration	666.67
8.	Notice to dispose of company assets by receiver or liquidator	666.67
9.	Notice of resolution to commence business rescue proceedings	666.67
10.	Notice of substantial implementation of business rescue plan	666.67
11.	Notice of termination of business rescue proceedings	666.67
12.	Return of final winding-up meeting and dissolution of a company	3.833.00
13.	Any other matter	1,166.66

{/mprestriction}

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