As SPIC can only be flown at an Integrated School then the answer will, or should be in your Operations Manual!
The regulation states:
‘Student pilot-in-command’ (SPIC) means a student pilot acting as pilot-in-command on a flight with an instructor where the latter will only observe the student pilot and shall not influence or control the flight of the aircraft.
If you are not qualified to teach Instrument Flying, then you are not qualified to observe a student!