The SRA Handbook is no longer in effect. It was replaced by the SRA Standards and Regulations on 25 November 2019.
SRA Handbook
Financial evidence
Back to version 21Version 3 of the Handbook was published on 20/04/2012. For more information, please click 'History' Above
5: Financial evidence
- 5.1
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Unless there are exceptional circumstances we will refuse your application if:
- 5.2
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If you have been declared bankrupt, entered into any individual voluntary arrangements (IVA) or have had a County Court Judgement issued against you it will raise a presumption that there has been evidence that you cannot manage your finances properly and carefully.
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Guidance note
- (i)
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The following might help to establish confidence in your ability to run your business/carry out your role in the business effectively and in accordance with proper governance and sound financial and risk management principles:
- (a)
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the bankruptcy/IVA/County Court Judgement occurred many years ago and there is evidence of subsequent sound financial management and conduct to show that creditors have been repaid;
- (b)
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you were affected by exceptional circumstances beyond your control which you could not have reasonably foreseen.