Date posted: 16/11/2021

Submission on consequential amendments for small business restructuring

Changes to regulations to support small business insolvency reforms including that restructuring practitioners do not need an ACL.

With CPA Australia, we supported the amendments proposed to embed the recent reforms for small business to restructure across relevant legislation. This included recognition of the new role of a restructuring practitioner.

In particular, we welcomed the clarification that registered liquidators that take an appointment as a restructuring practitioner are not required to hold an Australian credit licence. This has been an area of concern for our members as a restructuring practitioner to a company may provide advice around debt management as part of developing a restructuring plan.

Thank you to our members that provided input to inform this submission.

Insolvency and restructure

What role can a Chartered Accountant play in insolvency and restructure?

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