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New Zealand Legislation: Acts

Acts are laws made by Parliament

11 No being in business of providing financial service unless registered

(1) A person to whom this Act applies must not be in the business of providing a financial service unless that person is registered for that service under this Part.
(2) Every person who knowingly breaches subsection (1) commits an offence and is liable on summary conviction,—
- (a) in the case of an individual, to imprisonment for a term not exceeding 12 months or to a fine not exceeding $100,000, or to both; or
- (b) in the case of a person who is not an individual, to a fine not exceeding $300,000.
Section 11: brought into force (in respect of financial services other than financial adviser services), on 1 December 2010, by clause 3 of the Financial Service Providers (Registration and Dispute Resolution) Act Commencement Order 2010 (SR 2010/231).
Section 11: brought into force (in respect of financial adviser services), on 1 April 2011, by clause 4 of the Financial Service Providers (Registration and Dispute Resolution) Act Commencement Order 2010 (SR 2010/231).
Section 11(1): amended, on 1 July 2010, by section 11 of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).