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 110
Heading to clause 110: to omit “in relation to category 1 product”
(lines 10 and 11 on page 114).
Subclause (1): to omit this subclause (lines 12 to 17 on page 114) and substitute the following subclause:
(1) Subject to subsection (2), a person who, without being authorised, performs a financial adviser service that under this Act only an authorised financial adviser may perform commits an offence and is liable on summary conviction to a fine,—
(a) in the case of an individual, not exceeding $10,000:
(b) in the case of an entity, not exceeding $50,000.
Subclause (2): to insert after “product”
(line 21 on page 114) “or provides a financial planning service”
.