New Zealand Legislation: Supplementary Order Papers
Supplementary Order Papers (SOPs) are proposed amendments to Bills
Supplementary Order Papers (SOPs) are proposed amendments to Bills
New clause 44A
To insert the following clause after clause 44 (after line 14 on page 34):
44A Meaning of reference to providing financial service to public
(1) The reference in section 44 to providing a financial service to the public includes—
(a) a reference to providing the service to any section of the public, however selected; and
(b) a reference to providing the service to a person if the person became known to the provider as a result of any advertisement made by or on behalf of the provider and that was intended or likely to result in the public seeking further information or advice about the service.
(2) Providing a financial service to any or all of the following persons only does not constitute providing the service to the public:
(a) relatives (within the meaning of the Human Rights Act 1993), related companies, or close business associates of the provider:
(b) persons, or classes of persons, that are connected to the provider in the prescribed manner or that meet prescribed criteria:
(c) any other person who in all the circumstances can properly be regarded as having been selected otherwise than as a member of the public.
(3) A person is not precluded from being regarded as a member of the public in regard to the provision of a financial service to the person by reason only that the person is a purchaser of goods or services from, or an employee or client of, the provider.
(4) Proof of providing a financial service to 1 person selected as a member of the public is prima facie evidence of providing the service to the public.