New Zealand Legislation: Supplementary Order Papers
Supplementary Order Papers (SOPs) are proposed amendments to Bills
Supplementary Order Papers (SOPs) are proposed amendments to Bills
Clause 43: new section 57
Heading to new section 57: to omit “relation to”
(line 31 on page 58) and substitute “respect of”
.
Subsection (2)(c): to omit “be made within the period specified if the person already has 1 or more holding accounts,”
(lines 6 and 7 on page 59) and substitute “if the person already has 1 or more holding accounts, contain”
.
Subsection (3): to omit “they submit”
(line 11 on page 59) and substitute “the person submits”
.
Subsection (3)(a): to omit “within 10 working days of submitting the application”
(line 13 on page 59) and substitute “at the time the person submits the application”
.
Subsection (4)(a): to omit “relation to”
(line 21 on page 59) and substitute “respect of”
.
Subsection (4)(a)(ii): to omit “under”
(line 26 on page 59) and substitute “in accordance with”
.
Subsection (5)(a): to omit “the details of”
(line 33 on page 59).
Subsection (5)(b): to omit “relation to”
(line 36 on page 59) and substitute “respect of”
.
Subsection (5)(b): to omit “under subsection (7); and”
(lines 36 and 37 on page 59) and substitute “in accordance with subsection (7).”
.
Subsection (5A): to omit this subsection (lines 38 and 39 on page 59 and lines 1 to 8 on page 60) and substitute the following subsection:
“(5A) After registering a person under subsection (5), the chief executive must notify the following persons that the person has been registered as a participant in respect of the activity and the date from which the registration will take effect:
“(a) the applicant; and
“(b) by notice issued on the same date as the notice to the applicant, any other persons required to be notified under section 166(5)(a), 173(2)(a), 176(2)(a), or 177A(2)(a), as the case may require.
Subsection (6): to omit this subsection (lines 9 to 18 on page 60) and substitute the following subsection:
“(6) If the chief executive receives an application under subsection (1) in respect of an activity listed in Part 2, 3, 4, or 5 of Schedule 4, then the chief executive must, within 20 working days of receiving the application,—
“(a) decline the application; or
“(b) register the applicant under subsection (5), unless the chief executive requires further information from the applicant in order to satisfy himself or herself that the person is carrying out the activity specified in the application, in which case the chief executive must either register the person within 20 working days of receiving the further information or decline the application.
Subsection (7): to omit “onto”
(line 20 on page 60) and substitute “on”
.
Subsection (7): to omit “such later date as is required by sections 173(2)(b), 176(2)(b)”
(lines 21 and 22 on page 60) and substitute “any later date required by section 173(2)(b), 176(2)(b),”
.
Subsection (8): to omit “details of the activity in respect of which the person is registered that are contained in the application.”
(lines 28 to 30 on page 60) and substitute “activity that is specified in the application, and notify the person that the activity has been entered on the register next to the person's name.”
.