IPA Submissions
- APES 215 (submission to APESB)
The IPA has lodged two submissions with the Australian Professional and Ethical Standards Board (APESB) on the Exposure Draft of APES 215 Forensic Accounting, which also deals with the provision of Expert Witness services. It is the IPA’s position that this standard should not apply to Insolvency Practitioners acting in a formal capacity (ie. As liquidator),... Read More »
- GST (submission to Board of Taxation)
The IPA made two submissions to the Board of Taxation on its review of the legal framework for the administration of GST. A range of issues were being considered by the Board, including the operation of GST in insolvency administrations. The IPA's submission deals with a wide range of issues that require amendments to the legislation to... Read More »
- Issues in External Administrations (CAMAC) - IPA Submission
The IPA have recently made a submission in respect of CAMAC’s discussion paper on Issues in External Administration. The discussion paper raised a number of issues for comment that were largely derived from submissions made to Treasury on the exposure draft of the Corporations Amendment (Insolvency) Bill 2007. The IPA’s submission can be accessed here .... Read More »
- IPA comments on ASIC's insolvent trading guide
We enclose the submission made to ASIC on its Consultation Paper 124 - Duty to prevent insolvent trading: Guide for Directors . The IPA supports the issue of the guide but considers that: the guide should give more emphasis to its purpose as a positive education tool for directors and give less... Read More »
- Insurance requirements for Registered Liquidators - IPA Submission
ASIC released a consultation paper on insurance requirements for Registered Liquidators. A copy of the IPA submission can be accessed here . Queries on this submission can be directed to Kim Arnold . Read More »
- Anti Money Laundering - IPA Submission
Anti-money laundering - IPA submission The IPA has lodged a submission with the Commonwealth Attorney-General's Department (AGD) on the proposed list of services covered by Tranche 2 of the Anti-Money Laundering and Counter-Terrorism Act 2006 (AML Act). The descriptions of those services are very widely drafted and include a number of services routinely carried out by... Read More »
- IPA submission to CAMAC - Sons of Gwalia
IPA has lodged a submission with CAMAC on its discussion paper on shareholder claims issues arising out of the Sons of Gwalia administration. IPA says that claims from shareholders in relation to share purchase or retention should not be allowed to be provable claims in an insolvency. However, if it is decided that they should... Read More »
- IPA's ten submissions made in 2010
We at the IPA have had a number of submissions to lodge with government on questions of insolvency law and practice since the beginning of this year - nine in all. They are summarised in this schedule. Topic of submission To whom By when ... Read More »
- Bankruptcy Offences - IPA Submission
The IPA has lodged a submission with the Insolvency and Trustee Service Australia (ITSA) in response to its review of the offence provisions of the Bankruptcy Act . The IPA has supported the thrust of the review, in particular as a means to further enforce what are significant obligations of bankrupts. The failure of bankrupts to abide by... Read More »
- Senate Committee inquiry - IPA's second submission available
The Senate inquiry hearing was held in Canberra on Wednesday 23 June. Mark Robinson, President of the IPA and Denise North CEO, spoke on behalf of the IPA. Representatives of ASIC, and insolvency academibs Drs Anderson and Morrison, also addressed the Committee. The transcript is on the Senate website We enclose IPA's second submission. ... Read More »
- Personal Property Securities - Corporations and Other Amendments Bill 2009 - IPA comments
IPA's comments to the Attorney-General's Department on the Corporations and Other Amendments Bill 2009 are enclosed . Members should note that: there is proposed a new definition of 'secured creditor' in the Corporations Act, and a revised definition in the Bankruptcy Act; that the question of the priority of administrators' liens under s... Read More »
- Client Legal Privilege - IPA Submission
The IPA has lodged a submission with the Australian Law Reform Commission (ALRC) in response to its Discussion Paper 72 on Client Legal Privilege and Federal Investigative Bodies . The IPA submission suggests that a bankrupt should not be able to raise the protection of privilege in response to demands by the trustee in bankruptcy for... Read More »
- Personal property securities - IPA submission
The IPA has made a submission to the Senate Standing Committee on Legal and Constitutional Affairs in relation to the proposed national personal property securities legislation. Given the significance of the secured creditor in insolvency, the IPA supports the introduction of the legislation. The IPA submission addresses particular issues - retention of title, remuneration liens, priority requirements... Read More »
- Director's Penalties Submission
The IPA is committed to continual improvement of the insolvency framework and believes that reforms to the insolvent trading provisions and consequent liabilities of directors is vital. The paper addresses a range of new ideas on insolvent trading in the context of allowing some latitude to directors to seek assistance in facilitating a restructuring of their business. ... Read More »
- IPA submission on bankruptcy proposals - June 2009
This is the submission made by the IPA to the Attorney-General's Department on the recent bankruptcy proposals that included shortening the period of bankruptcy from 3 years to 12 months. In brief, the IPA supports some of the changes although in most respects the IPA says that more information and analysis is required in order... Read More »
- Insolvency Law Reform - IPA Submissions
IPA Submission The IPA has made a comprehensive submission to treasury on the Exposure draft of the Corporations Law, (Insolvency) Bill. The submission and related document may be downloaded from the table below. Simply click on the link to download the document. Document Purpose... Read More »
- Australian Government First Stage Response to ALRC Privacy Report
The government has issued a 144 page report in response to aspects of the ALRC's report on reform of Australian privacy law - Australian Government First Stage Response to ALRC Privacy Report. See the government media release at http://www.smos.gov.au/media/2009/mr_412009.html Details of IPA' submissions to the inquiry are below. The government report deals only with bankruptcy aspects... Read More »
- Model OH&S Legislation - IPA submission
The IPA lodged its submission on the Model Safe Work Act on 9 November 2009. A copy of the submission is attached. A number of IPA members gave helpful input into the submission. The IPA will continue to monitor the progress of this important issue. Michael Murray IPA Legal Director mmurray@ipaa.com.au ----------------------------------------------------- ... Read More »
- The Resolve to Resolve: embracing ADR etc
The National Alternative Dispute Resolution Advisory Council (NADRAC) has recently completed its work on a reference from the Attorney-General, Robert McClelland, to inquire into and identify strategies to remove barriers and provide incentives for greater use of ADR in the federal civil justice system. NADRAC released an Issues Paper in March this year and the IPA, and... Read More »