New Zealand Legislation: Acts

21 What is disclosure obligation and when does it apply

• (1) A disclosure obligation under this Part is an obligation to make disclosure under or in accordance with sections 22 to 31.

  (2) A disclosure obligation applies only to a personalised service provided to a retail client.

  (3) Contravention of a disclosure obligation may give rise to an offence (see section 117).

  Section 21: substituted, on 1 July 2010, by section 11 of the Financial Advisers Amendment Act 2010 (2010 No 40).