Submission: ASIC RG 258: Registered liquidators – Registration, ongoing obligations, disciplinary actions and insurance

13/05/2024

ARITA's submission identified the following key points:

ARITA has significant concerns regarding the entitlement of New Zealand insolvency practitioners to be registered in Australia and strongly believes that any notice to be registered by New Zealand practitioners must provide evidence of the ability to comply with the ongoing obligations applicable to all registered liquidators in Australia.
Some concerns were noted and recommendations made regarding guidance on the assessment of an applicant’s experience and capacity.
RG 258 should incorporate relevant guidance from the Administrative Appeals Tribunal where it is available.
Some minor amendments were suggested to ensure that the guidance in RG 258 fully reflects the underlying legislation.

Annual Conference