New Zealand Legislation: Acts

33 Offence relating to contravention of section 32

• (1) Every person who enters into an agreement or enters into an arrangement or understanding with any other person that has the effect of circumventing section 32(2) or (3) is guilty of—

  • (a) a corrupt practice if the circumvention is wilful; and

  • (b) an illegal practice in any other case.

  (2) A financial agent who contravenes section 32(2) or (3) is guilty of an illegal practice.