Insolvency Practitioners Bill

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Hon Simon Power

Insolvency Practitioners Bill

Government Bill

141—1

Contents

Explanatory note

1 Title

2 Commencement

Part 1
Amendments to Companies Act 1993

3 Principal Act amended

Subpart 1—Amendments 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

386G Registrar may prohibit or restrict persons from acting as insolvency practitioners

386H Registrar must notify person before giving notice under section 386G

386I Registrar may vary or revoke notice given under section 386G

386J Person subject to supervision notice liable to supervisor for costs of supervision

Register of persons prohibited or restricted from acting as insolvency practitioners

386K Registrar to establish and maintain register

386L Operation of and access to register

386M Purposes of register

386N Contents of register

386O Registrar may amend, omit, remove, or restrict access to information in register

386P Searches of register

386Q Search purposes

386R When search breaches information privacy principle

386S Crown and Registrar not liable for act or omission

10 Regulations

Subpart 2—Consequential 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

Schedule 
Consequential amendments

The Parliament of New Zealand enacts as follows: