Subpart 2—Qualifying financial entities

63 What is qualifying financial entity (QFE)

(1)

A QFE is—

(a)

an entity that is registered and has QFE status; or

(b)

a number of partner entities that are each registered and jointly have QFE status.

(2)

For the purposes of any powers or rights conferred, or obligations or liabilities imposed, on QFEs by this Act, a QFE described in subsection (1)(b) is taken to be a separate entity and a person.

(3)

Subsection (2) does not limit any obligation or liability imposed on a partner entity.

Section 63: substituted, on 1 July 2010, by section 23 of the Financial Advisers Amendment Act 2010 (2010 No 40).