New winding-up cases from 30 July 2020
On commencement of the Insolvency, Restructuring and Dissolution Act 2018 on 30 July 2020, people wishing to act as liquidators in new winding-up cases beginning on or after commencement must register as insolvency practitioners with the Ministry of Law. ACRA no longer accepts new Approved Liquidator registration applications from that date.
Existing approved liquidators and unfinished cases
The direction states that the Minister would declare existing approved liquidators a specified class under section 9(1) of the Companies Act, enabling appointment in winding-up cases under the Companies Act or LLP Act still pending when IRDA commenced. Those existing approved liquidators need not renew their AL licence on expiry. This transitional permission should not be read as authority for every new IRDA case.
Earlier practice directions revoked
Practice Direction 5 of 2005 on experience and capacity for Approved Liquidator applications, and Practice Direction 1 of 2007 on renewal, are revoked. Practice Direction 4 of 2020 was issued on 30 July 2020 and updated as of 1 September 2022. The dates mark a transition between registration systems rather than a current new-application invitation.
Official source
This article independently explains the substantive contents of the official PDF, including the relevant conditions, procedures and annexes. The linked document remains the authoritative source for its original wording, and later changes should be checked separately.
Read the official PDF ↗