Submissions sought – Insolvency Practitioners Bill

On the 28th June, the Minister of Commerce and Consumer Affairs. Kris Faafoi sent the Insolvency Practitioners Bill back to the select committee to consider a supplementary order paper which replaces the proposed negative licencing regime with a co-regulatory licensing framework.

The select committee is calling for submissions on the SOP with a deadline of 24th Aug 2018.

RITANZ is compiling a submission representing feedback from the industry viewpoint and we encourage members to let us have their thoughts and comments on this very important topic as a matter of urgency.

The SOP is available for further reading as per the link below:

Supplementary Order Paper

Farm Debt Mediation Bill

The Farm Debt Mediation Bill would amend the Receiverships Act 1993 by introducing a mandatory mediation process and deferring the appointment of receivers for a minimum of 10 days to allow this process to take place.

This Bill was proposed, drawn up and introduced into parliament over a very short period of time and will need rigorous review and some adjustment before it can be passed into law. It is imperative that our industry has a voice and that RITANZ responds with our members thoughts and concerns on this before submissions close on 3rd Aug 2018.

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