A co-regulation licensing regime for insolvency practitioners

A new co-regulatory licensing regime for insolvency practitioners is currently being considered by Parliament.

The Insolvency Practitioners Bill

On 28 June 2018, the Government tabled a supplementary order paper (SOP) to the Insolvency Practitioners Bill.

The SOP provides a co-regulatory licensing regime for insolvency practitioners. It also makes changes to the Companies Act 1993 and Receiverships Act 1993 to:

  • improve the list of automatic practitioner disqualifications
  • provide the High court with an effective means to disqualify practitioners
  • increase the difficulty in which debtor friendly liquidators can be appointed
  • void the transfer of a company’s assets once a liquidation application has been filed.

Read the Supplementary Order Paper on the Legislation website(external link)

Read the Insolvency Practitioners Bill on the Parliament website(external link)

Related information

Minister's media statement on tabling of the SOP (external link)

Companies Act 1993(external link)

Receiverships Act 1993 (external link)

Cabinet Paper [PDF, 1.5 MB]

Regulatory Impact Statement [PDF, 371 KB]

Contact us

If you have any questions about the new regime email corporate.law@mbie.govt.nz