IPA Disciplinary Proceeding – Mr John Lord

IPA Disciplinary proceedings were commenced against Mr John Lord as a result of the cancellation of Mr Lord’s Official Liquidation registration by ASIC on 19 August 2011.

Section 16.6 of the IPA Constitution specifically prescribes that if disciplinary or legal proceedings are determined in a manner which is adverse to the member, but do not have the effect of suspending or terminating the member’s right to practice, the National Committee may in its discretion and having regard to the IPA Regulations suspend or terminate membership of the member, impose a penalty as prescribed in the IPA Regulations, or attach one or more conditions to the member’s membership.

Having duly considered ASIC’s reasons in this matter, the IPA has determined that no further penalty should be imposed on Mr Lord by the IPA.

The IPA has written to Mr Lord noting his advice that he is ceasing practice but asking that he provide the IPA with notice of any intention to recommence practice in a timely manner.  The IPA also advised Mr Lord that if he intended to recommence his prior practice, and to accept appointments while having a direct or indirect relationship with a manager of debt recovery or like services, he would need to carefully consider the matter.

The IPA has notified Mr Lord, ASIC and his accounting membership body, the Institute of Chartered Accountants in Australia, of its determination.

The IPA Board resolved to report this decision and its reasons in accordance with IPA Regulation 25.