Overview of BIA Counselling in Insolvency Matters (Directive No. 1R4)

Overview of BIA Counselling in Insolvency Matters (Directive No. 1R4)
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A table with 4 columns and 4 rows outlines the key amendments to Directive No. 1R3 Counselling in Insolvency Matters

Columns (left to right) are labelled: qualification, registration, assignment and delivery.
Rows (top to bottom) are labelled: responsibility, frequency, key elements and OSB.

Qualification column

Responsibility: Potential insolvency counsellor
Frequency: One time

Key elements:


  • Education:
    • High school diploma or GEDS plus: (Ref # 12(a))
      • 3 years of relevant work experience, or
      • 30 credit hours of post-secondary study
  • Knowledge:
    • Practical Course on Insolvency Counselling (PCIC) or valid ICQC certificate (Ref # 12(b-c))
    • Insolvency counselling curriculum (Ref # 12(d))
  • Experience:
    • Delivery of 50 BIA counselling sessions under observation (Ref # 12(f))
  • Transitional provisions:
    • Education / knowledge (Ref # 38, 40)
    • Experience recognition (Ref # 39)

OSB and CAIRP collaboration on PCIC course

Registration column

Responsibility: LIT and LIT-in-charge
Frequency: One time registration and annual renewal

Key elements:

Individual Registration
LIT verifies and attests to eligibility (Ref # 12):

  • Education, knowledge, experience (Ref # 12(a-f))
  • Competency (direct observation by LIT for 3 sessions) (Ref # 12(g))
  • Liability insurance coverage (Ref # 12(h))
  • No ineligible activities / roles: (Ref # 13)
    • Acting as intermediary
    • Referral arranging, or
    • Financing and lending services

Corporate Registration
Individual registration, and LIT-in-charge verifies and attests (Ref # 14, 15)

  • Employee of corporate LIT
  • No professional activities related to insolvent persons or debt advisory industry
  • Corporate liability insurance coverage


  • Validating registration requests (Ref #12-14)
  • Add counsellor to public registry of LITs (Ref # 35)

Assignment column

Responsibility: LIT
Frequency: Each estate or proposal

Key elements:

LIT may assign a registered insolvency counsellor (Ref # 19)

Debtor Disclosure:

  • Consents to share info with external counsellor (if applicable)(Ref # 19(1)(b))
  • May request exception from standard due to inconvenience or distance: (Ref # 20, 21, 22)
    • Video,
    • Third-party office.

LIT Declaration:

  • No counsellor conflicts of interest (Ref # 17)
  • No consideration to counsellor beyond the BIA amount (Ref # 18)
  • May grant delivery exception if feasible and appropriate. (Ref # 20, 21, 22)

The Insolvency Counselling Disclosure and Assignment Form submitted to OSB. (Ref # 19(1)(c))


  • Compliance monitoring and enforcement

Delivery column

Responsibility: LIT
Frequency: Each estate or proposal

Key elements:

Both counselling sessions in person at the LIT office is standard and preferred. (Ref # 20(1))

A Request for Variance Form is required for any extraordinary delivery circumstances. (Ref # 23)

The Insolvency Counselling Completion Form submitted to the OSB, where LIT declares (Ref # 27) :

  • Conformance with  the Directive, or
  • Non-completion


  • Investigating and responding to complaints
  • Compliance monitoring and enforcement

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