Financial Advisers (Definitions, Voluntary Authorisation, Prescribed Entities, and Exemptions) Amendment Regulations 2014

  • revoked
  • Financial Advisers (Definitions, Voluntary Authorisation, Prescribed Entities, and Exemptions) Amendment Regulations 2014: revoked, on 15 March 2021, pursuant to section 97(2)(b) of the Financial Services Legislation Amendment Act 2019 (2019 No 8).

Reprint as at 15 March 2021

Coat of Arms of New Zealand

Financial Advisers (Definitions, Voluntary Authorisation, Prescribed Entities, and Exemptions) Amendment Regulations 2014

(LI 2014/109)

Financial Advisers (Definitions, Voluntary Authorisation, Prescribed Entities, and Exemptions) Amendment Regulations 2014: revoked, on 15 March 2021, pursuant to section 97(2)(b) of the Financial Services Legislation Amendment Act 2019 (2019 No 8).

Jerry Mateparae, Governor-General

Order in Council

At Wellington this 24th day of March 2014

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.

These regulations are administered by the Ministry of Business, Innovation, and Employment.

Pursuant to section 154(1)(d) and (e) of the Financial Advisers Act 2008, His Excellency the Governor-General, acting on the advice and with the consent of the Executive Council and on the recommendation of the Minister of Commerce made after consulting the Financial Markets Authority in accordance with section 154(4) of that Act, makes the following regulations.

Regulations

1 Title

These regulations are the Financial Advisers (Definitions, Voluntary Authorisation, Prescribed Entities, and Exemptions) Amendment Regulations 2014.

2 Commencement

These regulations come into force on 1 April 2014.

3 Principal regulations

These regulations amend the Financial Advisers (Definitions, Voluntary Authorisation, Prescribed Entities, and Exemptions) Regulations 2011 (the principal regulations).

4 Regulation 4 amended (Meaning of cash or term portfolio investment entity)

In regulation 4(2), definition of PIE call fund unit, paragraph (a), after “investment statement”, insert “or terms of issue”.

5 Regulation 7B amended (Bank notice product is category 2 product)

Revoke regulation 7B(2)(c).

Michael Webster,
Clerk of the Executive Council.

Explanatory note

This note is not part of the regulations, but is intended to indicate their general effect.

These regulations, which come into force on 1 April 2014, amend the Financial Advisers (Definitions, Voluntary Authorisation, Prescribed Entities, and Exemptions) Regulations 2011.

These regulations amend the definition of bank notice product (a category 2 product). The amendment removes from the definition the requirement that the rate of interest or any other benefit provided does not alter as a result of a demand for repayment by the security holder.

These regulations also make a minor amendment to the definition of cash or term portfolio investment entity in light of changes made by the Financial Markets Conduct Act 2013.

Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 27 March 2014.

Reprints notes
1 General

This is a reprint of the Financial Advisers (Definitions, Voluntary Authorisation, Prescribed Entities, and Exemptions) Amendment Regulations 2014 that incorporates all the amendments to those regulations as at the date of the last amendment to them.

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

Financial Services Legislation Amendment Act 2019 (2019 No 8): section 97(2)(b)