Ombudsmen (Protection of Name) Amendment Bill

  • enacted

Schedule New Schedule 1AA inserted

s 6

Schedule 1AA Transitional, savings, and related provisions

s 2A

Part 1 Provisions relating to Ombudsmen (Protection of Name) Amendment Act 2019

1 Interpretation

In this Part, Amendment Act means the Ombudsmen (Protection of Name) Amendment Act 2019.

2 Savings provision for persons currently permitted to use “Ombudsman”

(1)

This clause applies to the following persons:

(a)

the Banking Ombudsman Scheme Limited; and

(b)

the Insurance & Financial Services Ombudsman Scheme Incorporated.

(2)

The persons to whom this clause applies are entitled to continue to use “Ombudsman” in their current names as if the Amendment Act had not been enacted.

2 Savings provision for Banking Ombudsman Scheme Limited

Despite the enactment of the Amendment Act, the entity known as Banking Ombudsman Scheme Limited is entitled to continue to use “Banking Ombudsman” in—

(a)

its current name; and

(b)

any new name arising from a restructure of that entity.

2A Savings provision for Insurance & Financial Services Ombudsman Scheme Incorporated

Despite the enactment of the Amendment Act, the entity known as Insurance & Financial Services Ombudsman Scheme Incorporated is entitled to continue to use “Insurance & Financial Services Ombudsman” in—

(a)

its current name; and

(b)

any new name arising from a restructure of that entity.

3 Savings provision in respect of application by Financial Services Complaints Limited to use “Ombudsman”

(1)

This clause applies if the Chief Ombudsman consents (whether before or after the commencement of the Amendment Act) to FSCL’s application under section 28A(1) of the Ombudsmen Act 1975 to use the name “Ombudsman”.

(2)

If this clause applies, FSCL may use “Ombudsman” in its name in accordance with the consent given by the Chief Ombudsman as if the Amendment Act had not been enacted.

(3)

In this clause, FSCL means Financial Services Complaints Limited, the appellant in the proceedings that were the subject of the judgment of the Court of Appeal reported in Financial Services Complaints Limited v Chief Ombudsman [2018] NZCA 27.