Financial Advisers Act 2008

13 Exemption for incidental service

(1)

A service is not a financial adviser service for the purposes of this Act if the service is provided only as an incidental part of another business that is not otherwise a financial service or does not have, as its principal activity, the provision of another financial service.

(2)

In addition, a service is not a financial adviser service if—

(a)

it is provided in connection with providing credit under a credit contract; and

(b)

both the service and the credit are provided as an incidental part of another business that is not otherwise a financial service or does not have, as its principal activity, the provision of another financial service.

(3)

In this section, a service is incidental to another business if it is carried on to facilitate the carrying out of another business, or is ancillary to another business.

(4)

Regulations may declare a class of service provided in the course of a class of business to be incidental, or that a class of business is not a financial service, for the purposes of subsection (1).

Section 13: substituted, on 1 July 2010, by section 10 of the Financial Advisers Amendment Act 2010 (2010 No 40).