Financial Service Providers (Registration) Amendment Regulations 2017

  • latest version but not yet in force

2017/288

Coat of Arms of New Zealand

Financial Service Providers (Registration) Amendment Regulations 2017

Patsy Reddy, Governor-General

Order in Council

At Wellington this 27th day of November 2017

Present:
The Right Hon Jacinda Ardern presiding in Council

These regulations are made under section 44 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 (Registration) Amendment Regulations 2017.

2 Commencement

These regulations come into force on 31 December 2017.

3 Principal regulations

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

4 Regulation 3 amended (Interpretation)

In regulation 3, insert in their appropriate alphabetical order:

corporate or public entity has the meaning given in section 9(1)(a) of the New Zealand Business Number Act 2016

New Zealand Business Number means the number allocated to an entity under section 14 of the New Zealand Business Number Act 2016

5 Schedule 1 amended

In Schedule 1, after clause 9, insert:

10

The applicant’s New Zealand Business Number (if any) if the applicant is a corporate or public entity.

6 Schedule 2 amended

In Schedule 2, after clause 2, insert:

2A

The registered financial service provider’s New Zealand Business Number if—

(a)

the provider is a corporate or public entity; and

(b)

a New Zealand Business Number for the provider has been provided to the Registrar.

7 Schedule 3 amended

In Schedule 3, after clause 2, insert:

2A

The registered financial service provider’s New Zealand Business Number (if any) if the financial service provider is a corporate or public entity.

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 31 December 2017, amend the Financial Service Providers (Registration) Regulations 2010.

These regulations make the following changes:

  • require that an applicant include the applicant’s New Zealand Business Number with its application for registration as a financial service provider if it is a corporate or public entity under section 9 of the New Zealand Business Number Act 2016:

  • require the register of financial service providers to include a registered financial service provider’s New Zealand Business Number if—

    • a New Zealand Business Number for the provider has been provided to the Registrar; and

    • the provider is a corporate or public entity:

  • if the financial service provider is a corporate or public entity, require that its New Zealand Business Number is provided as part of its annual confirmation.

Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 30 November 2017.

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