This Supplementary Order Paper amends the Regulatory Systems (Economic Development) Amendment Bill (No 2).

The changes in this Supplementary Order Paper relate to the amendments to the Insolvency Act 2006 in Part 8 of the Bill. In summary, the Supplementary Order Paper—

• deletes the changes that apply when a creditor submits a late claim in a bankruptcy (clauses 55 and 56 and an associated transitional provision). It is intended that a revised process for late claims will be included in a future Bill. Deleting the provisions from this Bill will allow more work to be done to ensure that the process is workable and fair and does not have unintended consequences (for example, in relation to the priority rules that apply to other creditors who have submitted claims within the required timeframe):

• adds new section 358C. This change clarifies that a discharge of a debtor after a distribution of money paid under a debt repayment order does not release other parties from any liability to pay a debt. These other parties may include, for example, a person who is jointly bound with the debtor or a guarantor. This is consistent with provisions that apply in the context of other discharges under the Insolvency Act 2006 (see, for example, sections 306 and 377B).