Financial Service Providers (Registration and Dispute Resolution) Act 2008

Registration - Registration of financial service provider

13: Qualifications for registration as financial service provider

You could also call this:

“What you need to be a registered financial service provider”

You can be registered as a financial service provider if you meet certain requirements. First, you must not be disqualified under section 14. Second, if a law says you need to be licensed for your business, you must have that license or be getting it when you start your business.

There’s a special rule for people who give credit or are mobile traders. If you want to do these jobs, you need to be certified under Part 5A of the Credit Contracts and Consumer Finance Act 2003. Without this certification, you can’t be registered as a financial service provider for these specific services.

Remember, these rules are in place to make sure that people providing financial services are qualified and follow the law. It’s important to check if you meet all these requirements before you try to register as a financial service provider.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1109510.


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12A: Registration for certain overlapping services not required, or

"You don't need to sign up twice for some money-related jobs if you're already signed up for similar work"


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14: Disqualified person, or

"Who can't be registered because of past actions or current situations"

Part 2 Registration
Registration of financial service provider

13Qualifications for registration as financial service provider

  1. A person is qualified to be registered as a financial service provider if—

  2. the person is not disqualified under section 14; and
      1. if a licensing enactment requires the person to be a licensed provider, the person is, or will be (on and from commencing to be in the relevant business), a licensed provider.
        1. However, subsection (3) applies to a person to whom section 131B of the Credit Contracts and Consumer Finance Act 2003 applies (which relates to when a person needs to be certified).

        2. The person is not qualified to be registered as a financial service provider for the service of being a creditor under a credit contract or a mobile trader unless the person is certified under Part 5A of that Act.

        Notes
        • Section 13(1)(b): repealed, on , by section 12 of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2014 (2014 No 34).
        • Section 13(1)(c): replaced, on , by section 13 of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).
        • Section 13(2): inserted, on , by section 62 of the Credit Contracts Legislation Amendment Act 2019 (2019 No 81).
        • Section 13(3): inserted, on , by section 62 of the Credit Contracts Legislation Amendment Act 2019 (2019 No 81).