There are four principal membership categories: Fellows, Associates, Affiliates and Trainees. In addition, Honorary membership of Nara is awarded to people who have made a particularly distinguished contribution to Nara and the receivership profession. The criteria for each category are as follows.
Fellows of Nara operate extensively throughout England and Wales as well as in Northern Ireland.
Fellows are either Registered Property Receivers (as defined) or, if temporarily not taking appointments, then having been Registered Property Receivers they remain fully eligible for re-admission to RPR membership in accordance with the current RPR Scheme rules.
As such Fellows have successfully completed approved training and demonstrated that they have sufficient experience to take appointments. They are regulated by their individual professional regulatory body and of which their continuing membership is a pre-requisite. The principal regulatory bodies are the Royal institution of Chartered Surveyors and the Insolvency Practitioners Institute. Other regulatory bodies are accepted in accordance with the Association’s regulations.
Each Fellow abides by a written Code of Practice and is required to undertake regular Continuing Professional Development (CPD) in the area of property receivership. Nara runs training courses for members to satisfy the CPD requirement. RPRs are subject to regular external monitoring to ensure maintenance and consistency of professional standards
Receivership appointments invariably require the services of a lawyer and/or an accountant, so Associate membership is available to those specialist professionals who work in the area of receivership but might not take appointments directly. Some Associates take receivership appointments but may not have completed the professional training required to become an RPR and Nara Fellow.
Nara affiliate membership is open to appointors of property receivers, who will usually be employed by banks or other lenders.
Affiliate is also open to Fellow and Associate members who have retired from practice, but who wish to retain their association with Nara membership.
Trainees are usually in the process of undertaking RPR examinations with the aim of becoming Nara Fellows. They are often already highly experienced professionals who have chosen to specialise in receivership work.
Trainee members of Nara are kept up to date with changes in receivership case law and have access to specifically designed training courses.