Explanatory note
This note is not part of the order, but is intended to indicate its general effect.
The main effect of the transitional provisions is to immediately allow persons to register for a financial advice service under the Financial Service Providers (Registration and Dispute Resolution) Act 2008 (the 2008 Act). That is, applications may be made before the new regime for financial advice services comes into force on 29 June 2020. See clause 3(1)(a) of new Schedule 1AA.
The transitional provisions in clauses 1 and 2 of new Schedule 1AA relate to changes in the descriptions of certain financial services under the 2008 Act and changes to the application of that Act. These changes to the 2008 Act come into force on 29 June 2020.
Issued under the authority of the Legislation Act 2012.
Date of notification in Gazette: 25 November 2019.
This order is administered by the Ministry of Business, Innovation, and Employment.