SCHEDULE D

 CANADIAN ASSOCIATION OF INSOLVENCY AND RESTRUCTURING PROFESSIONALS/

ASSOCIATION CANADIENNE DES PROFESSIONNELS DE

L ‘INSOLVABILITÉ ET DE LA RÉORGANISATION

The 930 general members of CAIRP (formerly CIPA, incorporated in 1979) comprise the majority of Canadian insolvency professionals acting as trustees in bankruptcy, receivers, agents and consultants in insolvency matters.  There are also another 536 members in the articling, life and corporate categories.

CAIRP’s mission is to:

q       develop, educate, support and give value to its members;

q       foster the provision of insolvency / business recovery services with integrity, objectivity and competence, in a manner that instils the highest degree of public confidence; and

q       advocate for a fair, honest and effective system of insolvency / business recovery administration throughout Canada.

The Association is affiliated with the eight provincial insolvency associations in Canada and The Canadian Institute of Chartered Accountants.  However, admission to general membership is not restricted to chartered accountants. It is open to anyone who completes the National Insolvency Qualification Program (NIQP) (see following).  General members are entitled to use the certification mark “CIRP” (Chartered Insolvency and Restructuring Professional).

In September 1997, the Association and the Superintendent of Bankruptcy jointly created the NIQP to harmonize the qualification requirements to become a general member of CAIRP and to become a trustee in bankruptcy.  The NIQP is responsible for delivering the theoretical training and examinations.  Eventually, all CIRP’s will be trustees and all trustees will be CIRP’s.

The Association works closely with the regulator (Superintendent of Bankruptcy) in a number of other areas such as:

·        joint committees to provide the practitioner’s perspective on Superintendent’s Directives and policy statements;

·        intervening in court cases to establish consistency in the application of bankruptcy law;

·        enforcing compliance with advertising standards;

·        selecting the trustee representatives on the Oral Boards for trustee licence candidates;

·        joint initiatives with the Superintendent to review and fulfil our respective roles and responsibilities in education, standard-setting, discipline and the advancement of the bankruptcy and insolvency system.

As a professional organization, the Association:

·        created the FCIRP mark to confer fellowships on members who have given distinguished service

·        created Rules of Professional Conduct and a conduct and discipline process

·        created a course on insolvency administration for general members’ support staff

·        enacted standards of professional practice

·        presents annual continuing education seminars in six cities

·        provides briefs on legislative changes

·        is a founding member of INSOL International

                                                                                                            March 15, 2002