A bill that would require insolvency practitioners to be registered and meet minimum requirements has passed its second reading. Commerce Minister Craig Foss says the Insolvency Practitioners Bill will improve the integrity of New Zealand’s financial system and investor confidence. It would also give the Registrar of Companies greater power of enforcement, including the ability to deregister those who did not meet requirements.
Source: The Dominion Post, Saturday, November 9, 2013. A2.