New Zealand Legislation: Bills

11 No holding out in course of business that entitled to provide financial service unless registered

• (1) A person to whom this Act applies must not hold out (whether directly or indirectly) in the course of business that the person is registered, entitled, qualified, able, or willing to provide 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 body corporate, to a fine not exceeding $300,000.