The Ministry of Business, Innovation and Employment called for submissions on the Implementation of the Insolvency Practitioners Regulatory Act 2019, with respect to proposed standards, conditions and policies for accredited bodies.
Our submission consisted of responses to the 26 questions posed by the Ministry, and revolved around ensuring consistency between the insolvency practitioners' regulation scheme and other schemes, such as the audit regulation regime, where appropriate and practical. We agreed with proposals that ensured and protected ongoing independence, whilst maintaining practicality, within the new scheme. Further, we recognised that insolvency practitioner regulation has been particularly unique to date in New Zealand.
We provided our submission on 7 February 2020.