New Zealand Legislation: Bills

10 No providing financial service or licensed service in course of business unless registered

• (1) A person to whom this Act applies must not provide a financial service in the course of business unless that person is registered under this Part.

  (2) A person to whom this Act applies must not provide a licensed service in the course of business unless that person is registered under this Part as a licensed provider in relation to that particular licensed service.

  (3) Every person who knowingly breaches subsection (1) or (2) commits an offence and is liable on summary conviction,—

  • (a) in the case of an individual, to imprisonment for a term not exceeding 2 years or to a fine not exceeding $100,000, or to both; or

  • (b) in the case of a body corporate, to a fine not exceeding $300,000.