4Interpretation

1. In this Act, unless the context otherwise requires,—

   annual confirmation means the annual confirmation relating to a registered provider supplied to the Registrar under section 28

   annual report means the annual report relating to an approved dispute resolution scheme supplied to the Minister under section 68

   approved dispute resolution scheme has the meaning given by section 50

   business includes any profession, trade, or undertaking, whether or not carried on with the intention of making a pecuniary profit

   chief executive means the chief executive of the department of State that, with the authority of the Prime Minister, is for the time being responsible for the administration of this Act

   company means a company, or an overseas company, within the meaning of section 2(1) of the Companies Act 1993

   contract of insurance—

   1. means every contract of insurance including a contract of life insurance (including endowment and annuity contracts) and reinsurance; but
   2. does not include a class of contract declared not to be a contract of insurance by regulations

   controlling owner means, in relation to a financial service provider that is not an individual, any person who beneficially owns 50% or more of that provider

   conveyancing practitioner has the meaning given by section 6 of the Lawyers and Conveyancers Act 2006

   credit contract—

   1. has the meaning given by section 7 of the Credit Contracts and Consumer Finance Act 2003:
   2. includes a credit sale that is treated as a credit contract under section 16A (mobile trader credit sales) of that Act:
   3. includes a contract that is declared to be a consumer credit contract under Part 6 of that Act:
   4. does not include something that would otherwise be covered by paragraph (a), but that is not covered by paragraph (b) or (c), that—
      1. is specified in section 15(1)(a) or (b) of that Act; or
      2. is a contract under which no interest charges, and no credit fees, as defined in section 5 of that Act, are payable; or
      3. is declared not to be a credit contract under Part 6 of that Act

   creditor has the same meaning as in section 5 of the Credit Contracts and Consumer Finance Act 2003 except that it also includes a person who is treated as a creditor under that Act in respect of a credit contract

   director has the meaning given by section 6(1) of the Financial Markets Conduct Act 2013

   disciplinary committee means the disciplinary committee established under Part 5 of Schedule 5 of the Financial Markets Conduct Act 2013

   document means—

   1. any material, whether or not it is signed or otherwise authenticated, that bears symbols (including words and figures), images, or sounds, or from which symbols, images, or sounds can be derived, and includes—
      1. a label, marking, or other writing that identifies or describes a thing of which it forms a part, or to which it is attached:
      2. a book, map, plan, graph, or drawing:
      3. a photograph, film, or negative; and
   2. information electronically recorded or stored, and information derived from that information

   due date, in relation to an annual confirmation, means the date allocated to a registered financial service provider by the Registrar under section 16(1)(b)

   engaged, in relation to a person who gives financial advice, has the meaning given by section 431E of the Financial Markets Conduct Act 2013 (but see section 44A, which relates to when a person is engaged to give advice through an interposed person)

   family trust has the same meaning as in section 5 of the Credit Contracts and Consumer Finance Act 2003

   FATF means the Financial Action Task Force on Money Laundering established in Paris in 1989

   FATF Recommendations means all of the following recommendations:

   1. the 40 Recommendations adopted by FATF at its plenary meeting on 20 June 2003:
   2. the Special Recommendations on Terrorist Financing adopted by FATF at its extraordinary plenary meeting on 31 October 2001:
   3. Special Recommendation IX on Terrorist Financing adopted by FATF at its plenary meeting between 20 and 22 October 2004

   financial advice provider has the meaning given by section 6(1) of the Financial Markets Conduct Act 2013

   financial advice service has the meaning given by section 6(1) of the Financial Markets Conduct Act 2013

   financial markets legislation has the meaning given by section 4 of the Financial Markets Authority Act 2011

   financial service has the meaning given by section 5

   financial service provider means a person who provides or offers to provide a financial service

   FMA means the Financial Markets Authority established under Part 2 of the Financial Markets Authority Act 2011

   in the business of providing a financial service has the meaning given by section 6

   incorporated law firm has the meaning given by section 6 of the Lawyers and Conveyancers Act 2006

   insurer means a person by whom or on whose behalf the risk or part of the risk to which any contract of insurance relates is accepted

   lawyer has the meaning given by section 6 of the Lawyers and Conveyancers Act 2006

   levy means a levy prescribed by regulations made under section 68 of the Financial Markets Authority Act 2011

   licensed means licensed, registered, authorised, or otherwise approved by a licensing authority

   licensed provider means a person, identified in Schedule 2, who—

   1. provides or offers to provide a licensed service; and
   2. is licensed, registered, authorised, or otherwise approved by a licensing authority

   licensed service means a financial service in respect of which a licensing enactment requires a person to be licensed (or to be exempt from that requirement) to—

   1. provide the service; or
   2. hold out that the person provides the service

   licensing authority means a body or person, identified in Schedule 2, that licenses, registers, authorises, or otherwise approves a person to be a licensed provider (but see section 44B in relation to operators of financial product markets)

   licensing enactment means an enactment identified in Schedule 2

   member, in relation to a dispute resolution scheme, has the meaning given by section 48(2)

   member of a local authority has the meaning given by section 5(1) of the Local Government Act 2002

   Minister means—

   1. the Minister of the Crown who, under the authority of any warrant or with the authority of the Prime Minister, is for the time being responsible for the administration of this Act and for Parts 1 and 2; and
   2. the Minister of the Crown who, under the authority of any warrant or with the authority of the Prime Minister, is for the time being responsible for Part 3

   Ministry means the department of State that, with the authority of the Prime Minister, is for the time being responsible for the administration of this Act

   mobile trader has the same meaning as in section 5 of the Credit Contracts and Consumer Finance Act 2003

   person includes a corporation sole, a body corporate, and an unincorporated body

   prescribed means prescribed by this Act or by any regulations made under this Act

   qualified statutory accountant has the same meaning as in section 5(1) of the Financial Reporting Act 2013

   real estate agent means a person who is a licensee under the Real Estate Agents Act 2008

   register means the register of financial service providers established and maintained under section 24

   Registrar means the Registrar of Financial Service Providers appointed under section 35

   regulated client money or property service has the meaning given by section 431W(4) of the Financial Markets Conduct Act 2013

   regulated financial advice has the meaning given by section 431C(3) of the Financial Markets Conduct Act 2013

   related company has the meaning given by section 2(3) of the Companies Act 1993

   retail client has the meaning set out in section 49

   senior manager means, in relation to a financial service provider, a person who is not a director but occupies a position that allows the person to exercise significant influence over the management or administration of that provider (for example, a chief executive or a chief financial officer)

   tax agent has the meaning given by section 3(1) of the Tax Administration Act 1994 and, for the purposes of this Act, includes a representative and nominated person as those terms are defined in section 3(1) of the Tax Administration Act 1994

   wholesale client has the meaning set out in section 49.

Notes

• Section 4 affiliated entity: repealed, on 1 July 2014, by section 6(4) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2014 (2014 No 34).
• Section 4 broker: repealed, on 15 March 2021, by section 62(1) of the Financial Services Legislation Amendment Act 2019 (2019 No 8).
• Section 4 broking service: repealed, on 15 March 2021, by section 62(1) of the Financial Services Legislation Amendment Act 2019 (2019 No 8).
• Section 4 chartered accountant: repealed, on 1 July 2015, by section 17 of the Financial Reporting Amendment Act 2014 (2014 No 64).
• Section 4 contract of insurance: inserted, on 1 July 2010, by section 7(3) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).
• Section 4 conveyancing practitioner: inserted, on 1 July 2010, by section 7(3) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).
• Section 4 credit contract: replaced, on 1 October 2021, by section 60(1) of the Credit Contracts Legislation Amendment Act 2019 (2019 No 81).
• Section 4 creditor: replaced, on 1 October 2021, by section 60(1) of the Credit Contracts Legislation Amendment Act 2019 (2019 No 81).
• Section 4 director: replaced, on 1 December 2014, by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70).
• Section 4 disciplinary committee: inserted, on 15 March 2021, by section 62(2) of the Financial Services Legislation Amendment Act 2019 (2019 No 8).
• Section 4 engaged: inserted, on 15 March 2021, by section 62(2) of the Financial Services Legislation Amendment Act 2019 (2019 No 8).
• Section 4 financial advice provider: inserted, on 15 March 2021, by section 62(2) of the Financial Services Legislation Amendment Act 2019 (2019 No 8).
• Section 4 financial advice service: inserted, on 15 March 2021, by section 62(2) of the Financial Services Legislation Amendment Act 2019 (2019 No 8).
• Section 4 financial adviser service: repealed, on 15 March 2021, by section 62(1) of the Financial Services Legislation Amendment Act 2019 (2019 No 8).
• Section 4 financial markets legislation: inserted, on 15 March 2021, by section 62(2) of the Financial Services Legislation Amendment Act 2019 (2019 No 8).
• Section 4 FMA: inserted, on 1 July 2014, by section 6(3) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2014 (2014 No 34).
• Section 4 incorporated law firm: inserted, on 1 July 2010, by section 7(3) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).
• Section 4 insurance business: repealed, on 1 July 2010, by section 7(1) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).
• Section 4 insurer: inserted, on 1 July 2010, by section 7(3) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).
• Section 4 levy: inserted, on 1 July 2014, by section 6(3) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2014 (2014 No 34).
• Section 4 licensed: inserted, on 1 July 2010, by section 7(3) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).
• Section 4 licensed service: replaced, on 1 July 2010, by section 7(3) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).
• Section 4 licensing authority: replaced, on 15 March 2021, by section 62(3) of the Financial Services Legislation Amendment Act 2019 (2019 No 8).
• Section 4 licensing enactment: inserted, on 1 July 2010, by section 7(3) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).
• Section 4 mobile trader: inserted, on 1 October 2021, by section 60(2) of the Credit Contracts Legislation Amendment Act 2019 (2019 No 81).
• Section 4 person: amended, on 1 July 2010, by section 7(2) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).
• Section 4 qualified statutory accountant: inserted, on 1 July 2015, by section 17 of the Financial Reporting Amendment Act 2014 (2014 No 64).
• Section 4 regulated client money or property service: inserted, on 15 March 2021, by section 62(2) of the Financial Services Legislation Amendment Act 2019 (2019 No 8).
• Section 4 regulated financial advice: inserted, on 15 March 2021, by section 62(2) of the Financial Services Legislation Amendment Act 2019 (2019 No 8).
• Section 4 reserve scheme: repealed, on 1 July 2014, by section 6(4) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2014 (2014 No 34).
• Section 4 responsible financial service provider: repealed, on 1 July 2014, by section 6(4) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2014 (2014 No 34).
• Section 4 retail client: inserted, on 1 July 2010, by section 7(3) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).
• Section 4 tax agent: amended, on 18 March 2019, by section 368 of the Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial Matters) Act 2019 (2019 No 5).
• Section 4 wholesale client: inserted, on 1 July 2010, by section 7(3) of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).