Which professions can't avail of bankruptcy or insolvency?

Brendan Burgess

Brendan Burgess

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The poster in this thread says that she cannot avail of personal insolvency because she is a pharmacist.
Moving on with negative equity

I find that very strange. Why would being insolvent affect one's role as a pharmacist?

But on a broader issue which professions can't avail of insolvency in case they lose their job?

Solicitor?
Auditor?
Barrister?
A senior position in financial services

Brendan
 
OK, I found this article by Charlie Weston

Thousands of professionals seek help to go bankrupt

The Irish Pharmacy Union (IPU), which represents 2,100 chemists, said it was seeking changes to the 2007 Pharmacy Act, which bans a pharmacist from operating if they are an undischarged bankrupt.

Head of Veterinary Ireland, Finbarr Murphy, whose organisation represents 1,300 vets, said it had sought changes to the 2012 legislation governing the profession, but was unsuccessful.
 
It appears that the only profession that cannot go bankrupt and continue to work are Pharmacists. I would say the 2007 Pharmacy Act is unconstitutional in this regard. The other professions can generally go bankrupt but would be independently assessed by their Regulatory Body as to whether there are other factors (e.g. fraud) that need to be considered.

The three main accountancy bodies, CAI, ACCA and CPA have a similar regime.

People in senior financial positions subject to Fitness & Probity regimes may be unable to work if they went bankrupt.

Jim Stafford
 
I see that there is a bill at 3rd stage proposing to remove that ban. Not sure why something as specific as this could not have been done through all party agreement very quickly.

Brendan

Regulated Professions (Health and Social Care) (Amendment) Bill 2019
February 2019

The provisions of a new bill published on 15 February 2019 will be of interest to health care professionals.

The Regulated Professions (Health and Social Care) (Amendment) Bill 2019 amends the Dentists Act 1985, the Health and Social Care Professionals Act 2005, the Pharmacy Act 2007, the Medical Practitioners Act 2007 and the Nurses and Midwives Act 2011.

The principal amendments include:

  • the removal of bankruptcy as a barrier to registration as a health care professional
 
Brendan Burgess said:
But on a broader issue which professions can't avail of insolvency in case they lose their job?

Solicitor?
Auditor?
Barrister?
A senior position in financial services
Click to expand...

I have a solicitor friend who went bankrupt. And is back working. Timed it specificially to suit life at the time. That was my understanding.
 
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