Financial Service Providers (Registration and Dispute Resolution) Act 2008

Suspension of registration

Heading: inserted, on 15 March 2021, by section 81 of the Financial Services Legislation Amendment Act 2019 (2019 No 8).

22B Suspension of registration

(1)

The Registrar must suspend the registration of a person (A) if the Registrar has received a direction under section 469(2)(c) or clause 46(3)(c) of Schedule 5 of the Financial Markets Conduct Act 2013.

(2)

The suspension is in effect—

(a)

for the period specified in the direction; or

(b)

until A meets the conditions specified in the direction (but, in any case, not for a period of more than 12 months).

(3)

A person whose registration is suspended is taken not to have that registration while it is suspended.

(4)

However, the FMA or the disciplinary committee may specify in the direction that subsection (3) does not apply for specified purposes.

Section 22B: inserted, on 15 March 2021, by section 81 of the Financial Services Legislation Amendment Act 2019 (2019 No 8).