Financial Service Providers (Registration) Amendment Regulations 2014

2014/337

Coat of Arms of New Zealand

Financial Service Providers (Registration) Amendment Regulations 2014

Jerry Mateparae, Governor-General

Order in Council

At Wellington this 3rd day of November 2014

Present:
His Excellency the Governor-General in Council

Pursuant to section 44 of the Financial Service Providers (Registration and Dispute Resolution) Act 2008, His Excellency the Governor-General makes the following regulations, acting—

  • (a) on the advice and with the consent of the Executive Council; and

  • (b) on the recommendation of the Minister of Commerce and Consumer Affairs.

Regulations

1 Title
  • These regulations are the Financial Service Providers (Registration) Amendment Regulations 2014.

2 Commencement
  • These regulations come into force on 1 December 2014.

3 Principal regulations
4 Schedule 1 amended
  • In Schedule 1, clause 7, delete—

    • (a) or the reserve scheme; and

    • (b) or reserve scheme (as the case may be).

5 Schedule 3 amended
  • (1) In Schedule 3, revoke clause 4.

    (2) In Schedule 3, clause 5, delete—

    • (a) or the reserve scheme; and

    • (b) or reserve scheme (as the case may be).

Michael Webster,
Clerk of the Executive Council.


Explanatory note

This note is not part of the regulations, but is intended to indicate their general effect.

These regulations, which come into force on 1 December 2014, amend the Financial Service Providers (Registration) Regulations 2010 (the principal regulations).

Regulations 4 and 5 remove from Schedules 1 and 3 of the principal regulations references to the reserve scheme (that is, the government-established reserve dispute resolution scheme) that was formerly part of the financial service providers registration regime under the Financial Service Providers (Registration and Dispute Resolution) Act 2008. The removal is consequential on the reserve scheme’s abolition on 1 July 2014 by the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2014.


Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 4 November 2014.

These regulations are administered by the Ministry of Business, Innovation, and Employment.