CIPC draws up business rescue CPD policy

CIPC draws up business rescue CPD policy
20 Aug 2020

The Companies and Intellectual Property Commission has drawn up a Business Rescue Continuing Professional Development (CPD) Policy.

The trade, industry and competition department published the policy in Government Gazette 43613.

The aim of the policy is to ensure that Business Rescue Practitioners (BRP) are aware of their responsibilities when applying to be business rescue practitioners and future requirements.

It also seeks to ensure that all stakeholders, professional bodies and BRP’s have a clear and concise understanding of the CPD required to be a registered BRP, understand what will qualify as CPD, understand how CPD will be monitored and understand how non-compliance with the policy will be dealt with.

The policy focuses on, inter alia, roles and responsibilities, policy requirements, reporting period, monitoring and reinstatement.

BRPs are expected to complete a minimum of 20 hours of relevant professional development activity every year.

Accredited professional bodies will have to, on an annual basis, verify whether individuals have met the objective of CPD.

“This will be done by selecting a random sample of their members to review and assess their compliance with the requirements of CPD and review and assess learning plans or other related CPD documents”.

In order to qualify for an exemption, members must not be professionally active.

In terms of re-instatement, BRPs may be required by accredited professional bodies to undertake additional relevant CPD or to provide a plan which sets out in detail how the members will update their knowledge and ensure that they can perform their responsibilities competently and with due care.

The policy came into effect on 1 January 2020.

Meanwhile, the economic development department, in Notice 435, announced that the Competition Tribunal has received a complaint referral.

The Competition Commission alleges that Levtrade International (Pty) Ltd engaged in a prohibited practice in contravention of the Competition Act.

In a statement, the trade, industry and competition department announced that the Botshabelo Digital Hub site has been revitalised and is ready to enhance job creation in the Free State.

According to the deputy minister of trade, industry and competition, Nomalungelo Gina, the Botshabelo Digital Hub is part of the ten digital hubs that will be established across the country.

“The project seeks to bridge the digital divide amongst the township residents and equip young people with skills and knowledge to prepare them for the Fourth Industrial Revolution.”

The deputy minister pointed out that the key objective of the initiative is to provide the youth and unemployed population with access to information and communication technology, and other facilities that will open up business and job opportunities.

The Digital Hubs Programme focuses on creating a “central meeting point for technology, innovation and creative businesses in the areas surrounding the industrial parks. This will support start-up accelerator programmes, business incubators and training programmes”.

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(This article is provided for informational purposes only and not for the purpose of providing legal advice. For more information on the topic, please contact the author/s or the relevant provider.)
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