Business Rescue Specialist
Get authorised to perform business rescues in terms of the Companies Act, 2008.
|Effort||3 month's study, 6 hours per week|
|Level||NQF Level 6|
What you will learn
As a SAIBA licensed practitioner you will:
- Be equipped with the necessary skills to fulfil their statutory duties in accordance with the letter of the law.
- Be guided on how to advise and protect the interests of directors, creditors, shareholders or employees of a company in financial distress.
- Understand and practically apply the provisions of the Companies Act pertaining to all legal aspects of business rescue.
- Be able to register with the CIPC as a Business Rescue Practitioner
- Option available for companies with financial problems
- Concept of business rescue and applicable definitions
- Requirements for commencing business rescue
- Financial distress
- Reasonable prospect of rescue
- Setting aside the resolution or appointment of the business rescue practitioner (BRP)
- Requiring security from the BRP
- Application by affected person
- The order commencing business rescue proceedings
- General moratorium on civil legal proceedings
- Protection of company assets
- Employment contracts and employees
- Uncompleted contracts
- Post-commencement finance
- Membership of accredited profession or licenced to act
- Not subject to order of probation
- Not disqualified from acting as the company director
- No compromising relationship with company
- Not related to a person with a compromising relationship
- Removal and replacement
- Powers, duties and liabilities of the business rescue practitioner
- Prescribed contents
- Publication of the plan
- Meeting to consider the business rescue plan
- Effect of the approval of the plan
- Effect of the rejection of the plan
- Three month deadline
- Conversion to liquidation proceedings
- Application to court
- What is a compromise
- Information to accompany a proposal of compromise
- Additional requirements
The entry requirements for the licence is a BAP(SA) or an equivalent designation at NQF level 7, together with a minimum of 8 years of relevant experience.
As specialist in Business Rescue you will stand out from the crowd, be able to attract more clients and earn a higher income.
The Companies Act no 71 of 2008 now allows accountants to become Business Rescue Practitioners, opening up a new revenue stream for their businesses. However, this is a specialist area and require evidence that you have mastered the subject area and will be able to deliver quality work as a Business Rescue Practitioner (BRP). The SAIBA Licence: Business Rescue Practitioner provides evidence of your competence in this specialist area.