Financial Service Providers (Fees) Amendment Regulations 2017

2017/141

Coat of Arms of New Zealand

Financial Service Providers (Fees) Amendment Regulations 2017

Patsy Reddy, Governor-General

Order in Council

At Wellington this 26th day of June 2017

Present:
Her Excellency the Governor-General in Council

These regulations are made under section 44(1)(e) of the Financial Service Providers (Registration and Dispute Resolution) Act 2008—

(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 (Fees) Amendment Regulations 2017.

2 Commencement

These regulations come into force on 1 July 2017.

3 Principal regulations

These regulations amend the Financial Service Providers (Fees) Regulations 2010 (the principal regulations).

4 Regulation 4 amended (Application fee)

In regulation 4, replace “$350” with “$345”.

5 Regulation 5 amended (Annual confirmation fee)

In regulation 5, replace “$60” with “$86.25”.

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 July 2017, amend the Financial Service Providers (Fees) Regulations 2010. The regulations reduce the application fee for registration as a financial service provider from $350 to $345. The regulations increase the fee payable in respect of the annual confirmation of a registered financial service provider’s details from $60 to $86.25.

Regulatory impact statement

The Ministry of Business, Innovation, and Employment produced a regulatory impact statement on 6 October 2016 to help inform the decisions taken by the Government relating to the contents of this instrument.

Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 29 June 2017.

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