Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2014

Reprint as at 1 July 2014

Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2014

Public Act2014 No 34
Date of assent6 June 2014
Commencementsee section 2

Note

Changes authorised by subpart 2 of Part 2 of the Legislation Act 2012 have been made in this official reprint.

Note 4 at the end of this reprint provides a list of the amendments incorporated.

This Act is administered by the Ministry of Business, Innovation, and Employment.


Contents

1 Title

2 Commencement

3 Principal Act

4 New section 2A inserted (Purposes of this Act)

5 Section 3 amended (Overview)

6 Section 4 amended (Interpretation)

7 Section 5 amended (Meaning of financial service)

8 Section 7 amended (Application of Act)

9 Subpart 1 heading in Part 2 amended

10 Section 11 amended (No being in business of providing financial service unless registered)

11 Section 12 amended (No holding out that in business of providing financial service unless registered)

12 Section 13 amended (Qualifications for registration as financial service provider)

13 Section 14 amended (Disqualified person)

14 Section 15 amended (Application to be registered as financial service provider)

15 New sections 15A to 15C inserted

16 Section 16 amended (Registration of financial service provider)

17 Section 17 amended (Duty to notify changes relating to financial service provider)

18 Section 18 amended (Deregistration of financial service provider)

19 New sections 18A to 18C inserted

20 Section 23 and cross-heading repealed

21 Section 26 amended (Purposes of register)

22 Section 27 amended (Contents of register)

23 Section 31 amended (Searches of register)

24 Section 34 amended (Sharing information with other persons or bodies)

25 Section 37 amended (Registrar’s inspection powers)

26 Section 42 amended (Appeals from Registrar’s decisions)

27 Section 43 amended (Decisions continue in effect until appeal)

28 Section 48 amended (Financial service provider must be member of dispute resolution scheme)

29 Section 49F amended (Members of dispute resolution scheme must comply with rules and binding resolutions)

30 Section 49G amended (Offence to fail to comply with District Court order)

31 Section 50 amended (Meaning of approved dispute resolution scheme)

32 Section 52 amended (Mandatory considerations for approval)

33 Section 56 amended (Withdrawal of approval)

34 Section 57 amended (Notice of intention to withdraw approval)

35 Section 61 replaced (Effect of withdrawal of approval on members of dispute resolution scheme)

36 Section 63 amended (Rules about approved dispute resolution scheme)

37 Section 66 amended (Minister's consideration of change of rules)

38 Section 67 amended (Duty to co-operate and communicate information in certain circumstances)

39 Subpart 3 of Part 3 repealed

40 Cross-heading above section 78 amended

41 Section 78 amended (Publication of details relating to approved dispute resolution schemes and reserve scheme)

42 Section 78A and cross-heading repealed

43 Section 79 amended (Regulations under this Part)

44 New section 79AA inserted (Appointment of interim dispute resolution scheme)

45 Section 79A amended (Pecuniary order for contravening wholesale certification requirement)

46 Section 79B amended (Compensation for contravention of wholesale certification requirement)

47 Consequential amendments to other Acts

48 Consequential revocations

Schedule
Consequential amendments to other Acts

Reprint notes


The Parliament of New Zealand enacts as follows: