New Zealand Legislation: Bills

4 Overview of Act

• This Act is divided in 5 Parts which are—

  • (a) Part 1—Preliminary provisions: the most important of these are the definitions found in sections 5 to 7:

  • (b) Part 2—Regulation of financial advisers: this Part deals with what a financial adviser must and must not do:

  • (c) Part 3—Approved professional bodies: a financial adviser must be a member of an approved professional body and this Part specifies what are approved professional bodies and how they gain (or lose) approval:

  • (d) Part 4—Enforcement and remedies: this Part deals with the ways in which a financial adviser’s obligations under the Act can be enforced, with the remedies that a person has if a financial adviser contravenes the Act, and (in subpart 4) with offences under the Act:

  • (e) Part 5—Miscellaneous: in this Part are found the usual miscellaneous provisions including the making of regulations, exemption powers, and amendments to other Acts.