Section 707 CAMA 2020

Section 707 Companies and Allied Matters Act is about Application for authorisation to act as insolvency practitioner. It is under Chapter 26 (Miscellaneous provisions applying to companies which are insolvent) of the Act.

(1) Application may be made to the Commission for authorisation to act as an insolvency practitioner, and the application shall—

(a) be made in such manner as the Commission may specify ;

(b) contain or be accompanied with a certificate of membership issued by BRIPAN or any other professional body approved by the Commission and such information as the Commission may reasonably require for the purpose of determining the application ; and

(c) be accompanied by the prescribed fee in the regulations issued bythe Commission.

(2) At any time after receiving the application and before determining it,the Commission may require the applicant to furnish additional information.

(3) An application may be withdrawn before it is granted or refused.