Date posted: 04/11/2021

Submission on proposed standard: APES 330 Insolvency Services

Revision of APES 330 Insolvency Services to address the Federal Government's insolvency reforms to assist small businesses.

We supported the revisions to the APES 330, in particular, the proposed new section for restructuring practitioners. This will clarify the requirements for members seeking to become a registered liquidator restricted to practicing only as a restructuring practitioner.

Revisions also included: 

  • amendments to the definitions of Appointment and Approving Body and a new definition for Restructuring Practitioners
  • relocation of the Declaration of Independence, Relevant Relationships and Indemnities (DIRRI) requirements to a new Section 5, and
  • Appendix 4 providing context on the nature of Restructuring Practitioner appointments and the applicability of sections in APES 330 to Restructuring Practitioners. 

Thank you to our members that provided input during the development of the proposed changes.

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