Discussion paper for minimum standards and conditions for the licensing of insolvency practitioners

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 seeks feedback on proposed minimum standards to prescribe the competence and experience that an insolvency practitioner will need to meet before that person can be licensed, the conditions that may be imposed on licences, and requirements for continuing professional development.

Once the Registrar has considered submissions, the final standards and conditions will be made by the Registrar by notice in the Gazette.

Submissions close on 13 December 2019.