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Click here for RITANZ Membership Application form
A membership year runs annually from 1 January to 31 December, although new members can join at any time throughout the year. Membership will cost $300.00 plus GST per annum. Membership fees are not pro rata’d. All members are considered to be General Members, unless they have been awarded Life Membership in which case they will be considered to be both a General Member and a Life Member.
RITANZ Membership is highly regarded in the Insolvency and Restructuring field and allows our members to be part of a professional community that provides significant access to leaders and influencers in the industry and promotes the quality and skills required in the profession. Some of the many benefits include:
The Insolvency Practitioners Regulation Act 2019 commenced on 1 September 2020 and it means that all insolvency practitioners taking insolvency engagements must comply with the Act, and where the Act requires it, must hold a licence to do so. Under the Act, insolvency practitioners are required to apply to an accredited body to obtain a licence. Undertaking an insolvency engagement without a statutory licence is an offence in most circumstances. The Act introduces a co-regulatory scheme to promote quality, expertise, and integrity in the profession of insolvency practitioners.
An insolvency practitioner under the Act means:
An administrator or a deed administrator (s239B of the Companies Act 1993);
An insolvent company liquidator;
A receiver (s2(1) of the Receiverships Act 1993);
A trustee or provisional trustee (Part 5, subpart 2 of the Insolvency Act 2006);
A practitioner handling solvent liquidations must be either a licensed insolvency practitioner; a lawyer or a qualified statutory accountant.
The Registrar appoints accredited bodies and has responsibility for oversight of the accreditation of bodies, ongoing monitoring and reporting, and corrective action to ensure the quality and effectiveness of the accredited bodies’ regulatory systems and processes.
Only an accredited body can issue a licence and they retain responsibility for all of the regulatory functions under the Act. In order to obtain a licence, a practitioner must either be a member of the accredited body; or be an overseas practitioner as per s5 of the Act; or be a member of a recognised body; or a practising member of a religious society as defined in Part 2, subpart 6, s57 of the Act.
RITANZ has been approved as a “recognised body” which provides its members with an avenue to apply for licensing through the accredited body, despite not being a member of that accredited body. A recognised body has no regulatory functions under the Act.
Full details and the application form are provided on the website for Chartered Accountants Australia and New Zealand: