5I Meaning of acting on behalf of B’s business and acting through A

(1)

In this Act, a person (A) provides services acting on behalf of the business of another person (B) or on behalf of B’s business if—

(a)

A is a director, an employee, or an agent (including a nominated representative or a contractor) of B and is acting within the scope of his or her actual or apparent authority; or

(b)

A is acting at the direction or with the consent or agreement (whether express or implied) of—

(i)

B; or

(ii)

a director, an employee, or an agent (including a nominated representative or a contractor) of B and the direction, consent, or agreement given is within the scope of the actual or apparent authority of the director, employee, or agent.

(2)

If A is providing services on behalf of B’s business, then B is acting through A to provide those services.

Section 5I: inserted, on 1 July 2010, by section 9 of the Financial Advisers Amendment Act 2010 (2010 No 40).