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This is a summary of the requirements to be licensed as an insolvency practitioner by ACCA. Full details are available in ACCA's global practising regulations 2003 as amended on 1 January 2005 and in ACCA's Practice Information booklet.

A person shall be eligible for an insolvency licence if:

1. he has been a member of ACCA for a continuous period of not less than two years, he has passed the JIEB, he has completed three years of relevant insolvency experience, at least two of which must have been after becoming a member of ACCA or another recognised accountancy body and he has obtained a minimum of 600 hours insolvency experience in the last three years (at least 150 hours per year); or
2. he has passed the JIEB, he has completed three years of practical experience and he has obtained a minimum of 600 hours relevant insolvency experience in the last three years (at least 150 hours per year); or
3. he has the right to practice as an insolvency practitioner in the UK under regulation 11 of the European Communities (Recognition of Professional Qualifications) (Second General System) Regulations 1996; or
4. he holds, or is eligible to hold, an insolvency licence issued by another Recognised Professional Body or the Secretary of State under sections 391 and 393 of the Insolvency Act 1986.

In addition, if he is not a member of ACCA, he shall be required to provide undertakings to be bound by the following regulations as if he were a member of ACCA:

1. the Global Practising Regulations;
2. the Continuing Professional Development requirements of Membership Regulation 4.4;
3. the Authorisation Regulations;
4. the Charter, bye-laws and regulations of ACCA insofar as they are appropriate; and
5. the disciplinary procedures of ACCA and any penalties which may be imposed insofar as they are applicable to non-members.

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