New Zealand Legislation: Acts
Acts are laws made by Parliament
In this Act, unless the context otherwise requires,—
affiliated entity means an affiliated entity that has been identified in an Order in Council in accordance with section 23(3)
annual confirmation means the annual confirmation relating to a registered provider supplied to the Registrar under section 28
annual report means the annual report relating to an approved dispute resolution scheme supplied to the Minister under section 68
approved dispute resolution scheme has the meaning given by section 50
broker has the meaning given by section 77A of the Financial Advisers Act 2008
broking service has the meaning given by section 77B of the Financial Advisers Act 2008
business includes any profession, trade, or undertaking, whether or not carried on with the intention of making a pecuniary profit
chartered accountant has the same meaning as in section 2 of the Institute of Chartered Accountants of New Zealand Act 1996
chief executive means the chief executive of the department of State that, with the authority of the Prime Minister, is for the time being responsible for the administration of this Act
company means a company, or an overseas company, within the meaning of section 2(1) of the Companies Act 1993
contract of insurance—
(a) means every contract of insurance including a contract of life insurance (including endowment and annuity contracts) and reinsurance; but
(b) does not include a class of contract declared not to be a contract of insurance by regulations
controlling owner means, in relation to a financial service provider that is not an individual, any person who beneficially owns 50% or more of that provider
conveyancing practitioner has the meaning given by section 6 of the Lawyers and Conveyancers Act 2006
credit contract—
(a) has the meaning given by section 7 of the Credit Contracts and Consumer Finance Act 2003; but
(b) does not include—
(i) contracts specified in section 15(1)(a) or (b) of that Act:
(ii) contracts to be treated as credit sales and consumer credit contracts under section 16 of that Act:
(iii) contracts under which no interest charges as defined in section 5 of that Act are payable
director has the meaning given by section 126 of the Companies Act 1993, but also includes, in relation to a body that is not a company, a person who occupies a position comparable to that of a director (such as a trustee or a partner)
document means—
(a) any material, whether or not it is signed or otherwise authenticated, that bears symbols (including words and figures), images, or sounds, or from which symbols, images, or sounds can be derived, and includes—
(i) a label, marking, or other writing that identifies or describes a thing of which it forms a part, or to which it is attached:
(ii) a book, map, plan, graph, or drawing:
(iii) a photograph, film, or negative; and
(b) information electronically recorded or stored, and information derived from that information
due date, in relation to an annual confirmation, means the date allocated to a registered financial service provider by the Registrar under section 16(1)(b)
family trust has the same meaning as in section 5 of the Credit Contracts and Consumer Finance Act 2003
FATF means the Financial Action Task Force on Money Laundering established in Paris in 1989
FATF Recommendations means all of the following recommendations:
(a) the 40 Recommendations adopted by FATF at its plenary meeting on 20 June 2003:
(b) the Special Recommendations on Terrorist Financing adopted by FATF at its extraordinary plenary meeting on 31 October 2001:
(c) Special Recommendation IX on Terrorist Financing adopted by FATF at its plenary meeting between 20 and 22 October 2004
financial adviser service has the meaning given by section 9 of the Financial Advisers Act 2008
financial service has the meaning given by section 5
financial service provider means a person who provides or offers to provide a financial service
in the business of providing a financial service has the meaning given by section 6
incorporated law firm has the meaning given by section 6 of the Lawyers and Conveyancers Act 2006
insurer means a person by whom or on whose behalf the risk or part of the risk to which any contract of insurance relates is accepted
lawyer has the meaning given by section 6 of the Lawyers and Conveyancers Act 2006
licensed means licensed, registered, authorised, or otherwise approved by a licensing authority
licensed provider means a person, identified in Schedule 2, who—
(a) provides or offers to provide a licensed service; and
(b) is licensed, registered, authorised, or otherwise approved by a licensing authority
licensed service means a financial service in respect of which a licensing enactment requires a person to be licensed (or to be exempt from that requirement) to—
(a) provide the service; or
(b) hold out that the person provides the service
licensing authority means a body, identified in Schedule 2, that licenses, registers, authorises, or otherwise approves a person to be a licensed provider
licensing enactment means an enactment identified in Schedule 2
member, in relation to a dispute resolution scheme, has the meaning given by section 48(2)
member of a local authority has the meaning given by section 5(1) of the Local Government Act 2002
Minister means—
(a) the Minister of the Crown who, under the authority of any warrant or with the authority of the Prime Minister, is for the time being responsible for the administration of this Act and for Parts 1 and 2; and
(b) the Minister of the Crown who, under the authority of any warrant or with the authority of the Prime Minister, is for the time being responsible for Part 3
Ministry means the department of State that, with the authority of the Prime Minister, is for the time being responsible for the administration of this Act
person includes a corporation sole, a body corporate, and an unincorporated body
prescribed means prescribed by this Act or by any regulations made under this Act
real estate agent means a person who is a licensee under the Real Estate Agents Act 2008
register means the register of financial service providers established and maintained under section 24
Registrar means the Registrar of Financial Service Providers appointed under section 35
related company has the meaning given by section 2(3) of the Companies Act 1993
reserve scheme has the meaning given by section 71
responsible financial service provider is a person declared to be a responsible financial service provider under section 23(1)
retail client has the meaning set out in section 49
senior manager means, in relation to a financial service provider, a person who is not a director but occupies a position that allows the person to exercise significant influence over the management or administration of that provider (for example, a chief executive or a chief financial officer)
tax agent has the meaning given by section 3(1) of the Tax Administration Act 1994
wholesale client has the meaning set out in section 49.
Section 4 broker: inserted, on 1 July 2010, by section 7(3) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).
Section 4 broking service: inserted, on 1 July 2010, by section 7(3) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).
Section 4 chartered accountant: inserted, on 1 July 2010, by section 7(3) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).
Section 4 contract of insurance: inserted, on 1 July 2010, by section 7(3) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).
Section 4 conveyancing practitioner: inserted, on 1 July 2010, by section 7(3) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).
Section 4 financial adviser service: amended, on 1 July 2010, by section 7(4) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).
Section 4 incorporated law firm: inserted, on 1 July 2010, by section 7(3) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).
Section 4 insurance business: repealed, on 1 July 2010, by section 7(1) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).
Section 4 insurer: inserted, on 1 July 2010, by section 7(3) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).
Section 4 licensed: inserted, on 1 July 2010, by section 7(3) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).
Section 4 licensed service: substituted, on 1 July 2010, by section 7(3) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).
Section 4 licensing enactment: inserted, on 1 July 2010, by section 7(3) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).
Section 4 person: amended, on 1 July 2010, by section 7(2) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).
Section 4 retail client: inserted, on 1 July 2010, by section 7(3) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).
Section 4 wholesale client: added, on 1 July 2010, by section 7(3) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).
