Please note that the information on this page is provisional until the certification programme has been officially established.
For an overview of the certification flow diagram, click on the thumbnails on the right.
Qualification/ designation |
Exams required |
Eligibility criteria in term of a qualifications and experience |
| Certified Turnaround Professional (CTP) | CTP exam plus attendance course in directorship | CTP |
| Certified Turnaround Professional - Designate (CTP-D) | CTP, but without the experience requirement | |
| Honourary Certified Turnaround Professional (HCTP) | Waived | CTP, plus lifelong contribution to turnaround; by invitation only |
| Turnaround Professional Candidate (TP-C) | No exams. | CTP, but without the CTP exams requirement |
The Rules and Regulations compel all certified members irrespective of qualification or designation to disclose to prospective clients the nature of their certification qualification, including the educational, experiential and exam status of the member, as well as experience gained after certification.
In terms of Section 140(1)(a) of the Companies Act No. 71 of 2008 a business rescue practitioner will have full management control of the company in substitution for its board and pre-existing management, and in terms of Section 140(3)(b) will have the responsibilities, duties and liabilities of a director of the company. This implies that the business rescue practitioner must have management and directorship experience.
To this end, and to allow the CTP qualification to be a future business rescue practitioner accreditation qualification, a attendance course in directorship, approved by the Standards Subcommittee, is required in addition to passing the three CTP exams.
Qualifications to be admitted as a business rescue practitioner in terms of Section 138 of the Companies Act No. 71 of 2008 and Regulation 133 of the draft Company Regulations, 2010 do not allow for turnaround professional qualifications.
Regulation 133(1), however, stipulates that the Business Rescue Practice Regulatory Board must recommend to the Minister within two years of the implementation of the new Companies Act, minimum qualifications for accreditation of persons as business rescue practitioners.
TMA-SA will apply to the Business Rescue Practice Regulatory Board that the CTP qualification, or at least having passed the CTP exams, be a minimum qualification for accreditation of persons as business rescue practitioners.
In short, the answer is turnaround professionals from all disciplines that have passed the prescribed exams, in possession of a prescribed qualification, and with appropriate experience in their fields of the turnaround of companies suffering financial distress or in a financial crisis, including:
The Turnaround Certification Governance Board and TMA-SA endorse the principles of equal opportunity.
Eligibility criteria for examination and certification under the certification programme are applied equally to all applicants, regardless of age, race, colour, religion, gender, sexual orientation, gender identity, ancestry, national or ethnic origin, or disability.
Participation in the certification programmes is voluntary and open to anyone meeting the eligibility requirements.