Canterbury Earthquake (Financial Advisers Legislation) Order 2011

  • revoked
  • Canterbury Earthquake (Financial Advisers Legislation) Order 2011: revoked (after expiring on the close of 30 September 2011), on 19 April 2016, by section 146(2) of the Greater Christchurch Regeneration Act 2016 (2016 No 14).

Reprint as at 19 April 2016

Coat of Arms of New Zealand

Canterbury Earthquake (Financial Advisers Legislation) Order 2011

(SR 2011/74)

Canterbury Earthquake (Financial Advisers Legislation) Order 2011: revoked (after expiring on the close of 30 September 2011), on 19 April 2016, by section 146(2) of the Greater Christchurch Regeneration Act 2016 (2016 No 14).

Anand Satyanand, Governor-General

Order in Council

At Wellington this 28th day of March 2011

Present:
His Excellency the Governor-General in Council

Note

Changes authorised by subpart 2 of Part 2 of the Legislation Act 2012 have been made in this official reprint.

Note 4 at the end of this reprint provides a list of the amendments incorporated.

This order is administered by the Ministry of Business, Innovation, and Employment

Pursuant to section 6 of the Canterbury Earthquake Response and Recovery Act 2010, His Excellency the Governor-General makes the following order acting—

(a)

on the advice and with the consent of the Executive Council; and

(b)

on the recommendation of the relevant Minister made in accordance with section 6(2) of that Act.

Order

1 Title

This order is the Canterbury Earthquake (Financial Advisers Legislation) Order 2011.

2 Commencement

This order comes into force on 1 April 2011.

3 Expiry

Except as provided for in clause 5(2), this order expires on the close of 30 September 2011.

4 Interpretation

(1)

In this order, unless the context otherwise requires,—

Canterbury-based financial adviser—

(a)

means a financial adviser who—

(i)

is an individual; and

(ii)

has his or her sole, or principal, place of business in the specified area; but

(b)

does not include the nominated representative of a QFE

disclosure regulations means the Financial Advisers (Disclosure) Regulations 2010

specified area means the districts of the following territorial authorities:

(a)

the Christchurch City Council; and

(b)

the Selwyn District Council; and

(c)

the Waimakariri District Council.

(2)

Unless the context otherwise requires, any term or expression that is defined in the FAA or the FSPA and used, but not defined, in this order has the meaning given by the FAA or the FSPA, as the case may be.

5 Exemption from registration requirements under FSPA for Canterbury-based financial adviser
[Expired]

Clause 5: expired, on 1 July 2011, by clause 5(2).

6 Exemptions from authorisation and disclosure requirements under FAA and disclosure regulations for Canterbury-based financial adviser

(1)

A Canterbury-based financial adviser is exempt from—

(a)

all the sections of the FAA that come into force on 1 July 2011 (see clause 4 of the Financial Advisers Act Commencement Order 2010); and

(b)

the disclosure regulations.

(2)

Subclause (1) is subject to clause 7, but only to the extent that the exemptions relate to disclosure requirements.

7 Condition applying to exemptions in clause 6

(1)

The exemptions in clause 6 that relate to disclosure requirements are subject to the condition that a Canterbury-based financial adviser who, immediately before 1 July 2011, was required to comply with the disclosure requirements of Part 4 of the Securities Markets Act 1988 continues to comply with those requirements as if section 164 of the FAA was not in force.

(2)

For the purposes of subclause (1), the Securities Markets (Investment Advisers and Brokers) Regulations 2007 continue to apply in respect of a Canterbury-based financial adviser as if section 166 of the FAA were not in force.

Rebecca Kitteridge,
Clerk of the Executive Council.

Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 31 March 2011.

Reprints notes
1 General

This is a reprint of the Canterbury Earthquake (Financial Advisers Legislation) Order 2011 that incorporates all the amendments to that order as at the date of the last amendment to it.

2 Legal status

Reprints are presumed to correctly state, as at the date of the reprint, the law enacted by the principal enactment and by any amendments to that enactment. Section 18 of the Legislation Act 2012 provides that this reprint, published in electronic form, has the status of an official version under section 17 of that Act. A printed version of the reprint produced directly from this official electronic version also has official status.

3 Editorial and format changes

Editorial and format changes to reprints are made using the powers under sections 24 to 26 of the Legislation Act 2012. See also http://www.pco.parliament.govt.nz/editorial-conventions/.

4 Amendments incorporated in this reprint

Greater Christchurch Regeneration Act 2016 (2016 No 14): section 146(2)

Canterbury Earthquake (Financial Advisers Legislation) Order 2011 (SR 2011/74): clauses 3, 5(2)