Insolvency Practitioners’ Regulatory Council, which was formed on March 26, 2020 under Office of the Union Government notification 25/2020, held its meeting 1/2020 at the training school of the Office of the Auditor General of the Union in Yangon at 10:00 am on 27.6.2020.
At the meeting, the Auditor General of the Union U Maw Than delivered a speech regarding the formation of the Insolvency Practitioner Certification Committee, the Practitioner Disciplinary Committee, the Advisory Committee or the Executive Committee and the Regulatory Committee. He said the Regulatory Committee will include economists for the operations, professional accountants for financial affairs and advocates for legal matters and encourage to participate in the matters of Insolvency Law which consist of 11 Chapters and accordingly a lot of tasks to perform. Afterwards, the meeting elected the Union Auditor General as the Chair of the Council, recognized the formation of the Insolvency Practitioners’ Association and discussed the soonest issuance of insolvency practitioner certificates and priority functions.
In the meeting, the chairman of the Bar Council, the governor of the Central Bank of Myanmar, the president of the Union of Myanmar Federation of Chambers of Commerce and Industry, the member of Securities and Exchange Commission, the patron, the chairman, the vice chairman and the members of the Association of Myanmar Institute of Certified Public Accountants, the Director General of the Directorate of Investment and Company Administration were present.