New Zealand Legislation: Acts

12 No holding out that in business of providing financial service unless registered

• (1) A person to whom this Act applies must not hold out (whether directly or indirectly) that the person is registered under this Act or entitled, qualified, able, or willing to 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.