authorized insolvency practitioner
authorized insolvency practitionera person legally permitted to carry through certain duties in relation to an insolvency. A system of licensing exists to ensure the professional competence and skill of insolvency practitioners in individual and corporate insolvencies. Authorization is granted only if certain statutory requirements are met; these include membership of an approved professional body (such as the Institute of Chartered Accountants or the Insolvency Practitioners Association).
Collins Dictionary of Law © W.J. Stewart, 2006