1.3 Transitioning ITPs

The action is led by Kim Ngārimu, who is supported by Peter Winder and Kathy Grant.

What's been done

We've scoped what needs to be considered and have secured legal advisors to begin preparing advice on the requirements, process and timing. 

What we're working on this month

Constitutions are being finalised for ITPs. 

Director interviews are being completed and the appointment process will commence in March. A national briefing for newly appointed directors for ITP subsidiaries is being organised.

Preparing for the registration of all of the ‘companies’ (ITP Subsidiaries) as required by the legislation. Preparing advice for all ITP CEs on their role and what they will need to do to support the transition to a subsidiary company and running a local induction process for a new Board of Directors.

A document pack is being developed for ITP subsidiaries – including a draft Letters of Appointment, a draft letter of expectation, and comprehensive compliance information.

We’ll complete a legislative compliance manual for each ITP (including the Companies Act).

We will appoint Subsidiary Board Directors and run a national induction and briefing process for all directors.

We’ll have all the companies (ITP Subsidiaries) registered and ready to go, and instructions and guidance for Boards and ITP CEs in place to make sure the transition is as seamless as possible.

Coming up

April 2020

On 1 April, ITPs will become Subsidiary companies of NZIST (working name).