Discussion paper for implementation of the Insolvency Practitioners Regulation Act 2019

The Insolvency Practitioners Regulation Act 2019 was passed by Parliament in June 2019 and is expected to come into force in June 2020. This Act’s scheme will establish licensing requirements, effective ways for holding insolvency practitioners to account, and will raise standards of insolvency practice over time.

This discussion paper contains proposals to implement the Insolvency Practitioners Regulation Act, including setting the fees and levy under the scheme, and asks for feedback and comments. Once we have considered submissions, we will develop final proposals. If approved by Cabinet, these proposals will be given effect by making regulations under the Act.

Submissions close on 15 October 2019.