Insolvency Practitioners Bill

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Hon Simon Power

Insolvency Practitioners Bill

Government Bill



Explanatory note

1 Title

2 Commencement

Part 1
Amendments to Companies Act 1993

3 Principal Act amended

Subpart 1Amendments to principal Act

4 Prohibition order

5 Qualifications of liquidators

6 Orders to enforce liquidator's duties

7 Establishment of Liquidation Surplus Account

8 Penalty for failure to comply with Act

9 New headings and sections 386G to 386S inserted

Registrar may prohibit or restrict persons from acting as insolvency practitioner

Register of persons prohibited or restricted from acting as insolvency practitioners

10 Regulations

Subpart 2Consequential amendments and transitional provisions

11 Consequential amendments

Part 2
Amendments to Receiverships Act 1993

12 Principal Act amended

13 Qualifications of receivers

14 Orders to enforce receiver's duties

Consequential amendments

The Parliament of New Zealand enacts as follows: