New Zealand Legislation: Acts

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 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.