Superintendent's Notice regarding Directive No. 1R4: Insolvency Counsellor Registration
To: Licensed Insolvency Trustees
Subject: Important information regarding the registration of BIA Insolvency Counsellors pursuant to Directive No. 1R4, Counselling in Insolvency Matters
On , the Superintendent of Bankruptcy issued Directive No. 1R4, Counselling in Insolvency Matters (the Directive). The accompanying Release Notes provided Licensed Insolvency Trustees (LIT) information on how to plan for the implementation of the Directive.
It is important that LITs who provide for BIA insolvency counselling by relying on staff or third parties take steps now to ensure they are ready to commence registering their BIA counsellors beginning , and that they are able to conform with Directive requirements taking effect .
This Notice provides the specific information and materials necessary for LITs to submit requests for registration of BIA Insolvency Counsellors against individual LIT and corporate LIT licences.
- LITs should review the Registration Forms and Registration Guide that have been provided and ensure eligible registrants have assembled necessary supporting documentation.
- Important information is also provided in the Frequently Asked Questions.
- As noted in January, additional information on the schedule that will apply for registrants can be found in the Scheduling Information. All LITs will receive an email on or about May 7, identifying a reserved registration period for them to submit their BIA Insolvency Counsellor registration requests.
The OSB will review and validate registration requests and issue BIA Insolvency Counsellor registration numbers. Validated registrations will be displayed in the LIT’s profile in the OSB Licence Administration Application (OLAA) and will be published in OSB’s public registry of LITs on the OSB website.
Please take the time to review all documents. Visit the Insolvency Counselling web page and attend the CAIRP Forum Panel on Insolvency Counselling for further information.
For general enquiries related to registration, please contact the OSB at email@example.com.
Key reference materials for registering a BIA Insolvency Counsellor
- Form A: Registration Against An Individual Licensed Insolvency Trustee (LIT) Licence
- Form B: Registration Against A Corporate Licence
LITs should also ensure that their access credentials to log-in and use the OSB Licence Administration Application are available and up to date.
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