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: