Shotover Jet has stopped operations on the Shotover River near Queenstown while the safety of its boats is assessed.
The Maritime Safety Authority imposed the condition on Saturday after initial investigations failed to find a direct cause for an engine failure which caused one of the company's jetboats to crash into
a rock wall on Friday.
Eleven people were injured in the accident.
The authority and the Transport Accident Investigation Commission are both investigating the accident.
Authority duty manager Bruce Maroc said last night that an investigator had finalised his preliminary report. Once it was completed, Shotover Jet and other parties would be consulted.
It could be two months before the final review was complete and "any lessons learned" would then be circulated to other operators.
"Our preliminary understanding is that an electrical failure resulted in the motor stopping, but we are still investigating what caused that," he said.
Jetboats require a continual stream of water through the jet unit and nozzle to steer.
A passenger on the boat at the time of the accident, who declined to be identified, said it was fortunate the engine failure happened about 60m from the rock wall.
"If we did not have so far to coast, we probably would have hit it harder."
He and the other passengers had been looked after by the company, he said.
Some passengers suffered broken wrists from holding on to the front bar when the boat hit, one had a broken arm and many received bruises and cuts.
They have been discharged from hospital.
The man said he had been offered some compensation and a Shotover Jet jacket. Many passengers had received flowers.
He said he would return to Queenstown and would be prepared to go jetboating again.
The accident came just two days after a rafting accident on the same river that claimed the life of a 19-year-old Otago University medical student, Yoly Nim Yan Chi.
- NZPA