Eligibility of individual to hold insolvency practitioner’s licence
50.—(1)  An individual is not eligible to be granted, or to hold or continue to hold, an insolvency practitioner’s licence unless the individual is a qualified person or is for the time being exempted under subsection (1A).
[Act 39 of 2020 wef 15/12/2020]
(1A)  The Minister may exempt, for such period as the Minister may specify, any individual from the requirement of being a qualified person in order to be granted, or to hold or continue to hold, an insolvency practitioner’s licence.
[Act 39 of 2020 wef 15/12/2020]
(2)  In this section, “qualified person” means any person who —
(a)is a solicitor;
(b)is a public accountant;
(c)is a chartered accountant within the meaning given by section 2(1) of the Singapore Accountancy Commission Act (Cap. 294B); or
(d)possesses such other qualifications as the Minister may prescribe by order in the Gazette.