Implementation and Review
The Insolvency and Trustee Service's web-based case management system (known as "OASIS") is being enhanced in anticipation of the new functions that the Insolvency Act confers on the Official Assignee. The changes will enable debtors, creditors and key stakeholders, such as summary instalment order supervisors, to access a real-time, centralised and integrated source of information. It is expected that all IT work on this system will be completed at the beginning of December, for the coming into force of these regulations.
In addition, the staff of the Insolvency and Trustee Service will hold a series of workshops throughout New Zealand for interested parties on the law reform generally, and more specifically on the new summary instalment orders process. Posters and information cards are being published for display at such locations as WINZ offices, citizens' advice bureaus, courts offices and other places likely to reach interested parties. Finally through the Assignee's website and other publications, the Assignee is publishing guidelines on the law reform and how to access the new processes.
The Assignee and Registrar of Companies will enforce any breaches of the requirements of the legislation for which they are responsible in the same way as they currently do for the Insolvency Act 1967 and the Companies Act 1993. That is by way of an initial monitoring and compliance process, and then by way of referrals through to the National Enforcement Unit for possible prosecution action where necessary. The National Enforcement Agency is a business unit of the Ministry of Economic Development which investigates and, where appropriate, prosecutes offences under a number of Acts on behalf of the Official Assignee, as well as the Registrar of Companies and the Registrar of Motor Vehicle Traders. The National Enforcement Unit also prepares banned director reports on behalf of the Registrar of Companies.
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