"Earn the license that distinguishes you as a CIBA licensed Business Rescue Practitioner"

CBA(SA), CFO(SA) and BAP(SA) designated CIBA members can apply to become CIBA Licensed Business Rescue Practitioners.

The license is built on competence, ethics, and professional engagement standards and provides powerful support to accountants in practice.

Become a Business Rescue Specialist, attract more clients, get referrals from non-specialist accountants and diversify your income stream.

Companies Act Authority

The Companies and Intellectual Property Commission (CIPC) has, accredited CIBA as a professional body for business rescue practitioners in terms of Section 138(1) of the Companies Act, 2008.

Business rescue, as defined by the Companies Act 2008, aims to facilitate the rehabilitation of a company that is "financially distressed" by providing for: the temporary supervision of the company and management of its affairs, business and property by a business rescue practitioner, a temporary moratorium ("stay") on the rights of claimants against the company or in respect of property in its possession and the development and implementation (if approved) of a business rescue plan to rescue the company by restructuring its business, property, debt, affairs, other liabilities and equity.

Chapter 6 of the Companies Act, 2008 requires that CIBA establish and maintain proper mechanisms to ensure that its members achieve professional competence with regard to Business Rescue. This is achieved by providing recognition for prior experience and knowledge.

CIBA are obligated by the Companies Act, 2008 to ensure that CIBA members that provide business rescue services to clients, are:

competent and able to provide high quality services,
accountable for the work they perform,
committed to relevant CPD, and
aware of their role and responsibility to clients, and society.

Our License for Business Rescue aims to achieve this.

Licensed Business Rescuer

Stand-alone license

This license is accredited by CIBA and authorises the member to perform a specialist service within the standards of engagements as set by CIBA.

The license is not the equivalent of a designation nor a qualification.

Purpose of the license

Equip business accountants to perform quality business rescue engagements with confidence.

The CIBA license qualifies accountants to register with CIPC as a CIBA licensed Business Rescue Practitioner.

After completing this license the designated member will be:

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.
Have evidence of your competence in the Business Rescue specialist area.
Qualify to register for CIBA’s “Experience-through-exposure” (ETE) programme starting 1 Nov 2020.

The following topics are covered in the license

Study unit 1:

Introduction to business rescue and important definitions

Study unit 2:

Grounds for commencement of business rescue proceedings

Study unit 3:

Commencement by board resolution

Study unit 4:

Commencement of business rescue proceedings by order of court and the duration of business rescue

Study unit 5:

Legal consequences of business rescue proceedings: the general moratorium on legal proceedings and the protection of property interests

Study unit 6:

Legal consequences of business rescue proceedings: effects on employment and other contracts

Study unit 7:

Post commencement finance

Study unit 8:

Legal consequences – the effects on shareholders, directors and creditors

Study unit 9:

The business rescue practitioner: qualifications and appointment

Study unit 10:

The business rescue practitioner: power, duties and liabilities

Study unit 11:

The business rescue plan

Study unit 12:

Compromise with creditors in terms of section 155

Why a CIBA licensed Business Rescue Practitioner?

The South African economy is being placed under pressure by the Covid 19 pandemic. More and more companies are facing severe financial distress and as a result there is an urgent requirement for the application of the business rescue process.

We have seen high profile business rescue filings in the news such as SAA, Comair, Edcon and Pumulela. Never before has the Business Rescue process been as relevant as it is right now! Business rescue provides an alternative option for saving a company teetering on the brink of insolvency, that of a fresh start, and needs to be considered by all those involved with the failing entity.

The Companies Act no 71 of 2008 allows accountants to become Business Rescue Practitioners, opening up a new revenue stream for their businesses. Business Rescue is a specialist area and a Business Rescue license provide the evidence required that you have mastered the subject area and will be able to deliver quality work as a Business Rescue Practitioner(BRP).

CIBA is a CIPC accredited professional body for business rescue practitioners and offers a practical exam preparation course, to qualify as CIBA Licensed Business Rescue Practitioners.

If you want to perform business rescues you have to be licensed

The CIBA Licensed Business Rescue Practitioner (LBRP) is a professional license that is awarded to:

Members of CIBA, that have obtained a CBA(SA), CFA(SA) or BAP(SA) designation, and who
Want to qualify as a Business Rescue Practitioner with the CIPC, and
Has a minimum of 5 years of relevant post-designation experience.

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