Section 63: Prohibition on carrying on insolvency practice without license

1) No person shall operate insolvency practice without obtaining a license from the Office pursuant to this Act.

2) Any person who has not obtained the license pursuant to sub-section (1) shall not be appointed as the inquiry officer, restructuring manager or liquidator in the course of carrying out insolvency proceedings under this Act. Where any person other than a licensee is appointed as the inquiry officer, restructuring manager or liquidator, such appointment shall ipso facto be void.