New Zealand Legislation: Bills

19 Objection to proposed deregistration of financial service provider

• (1) During the notice period, the financial service provider may object (with reasons) to the proposed deregistration under section 17(1).

  (2) If the Registrar receives an objection under subsection (1) within the notice period, the Registrar must consider the objection and must not proceed with a deregistration under section 17(1), unless the Registrar is satisfied that the financial service provider is no longer—

  • (a) qualified to be registered in accordance with section 12; or

  • (b) providing or offering to provide a financial service.

  (2) If the Registrar receives an objection under subsection (1) within the notice period, the Registrar must consider the objection and must not proceed with a deregistration under section 17(1), unless the Registrar is satisfied that any of paragraphs (a) to (d) of section 17(1) applies.