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Financial Service Providers (Registration and Dispute Resolution) Act 2008

Registration - Registration of financial service provider - Reregistration of financial service provider

22: Reregistration of financial service provider

You could also call this:

“Re-adding a financial service provider to the official list”

The Registrar can put a financial service provider back on the register if they were taken off for certain reasons. If a provider was removed because they weren’t actually providing a financial service, the Registrar can add them back if they find out the provider was actually doing that work. If a provider was removed for not paying a fee or levy, the Registrar can add them back once the payment is made.

When a provider is put back on the register, it’s like they were never removed. The Registrar will tell the provider, any important authorities, and the public about this change. The public notice will be on a website for at least 20 working days.

If you want to be put back on the register, you need to ask within 60 days of being removed. After that, you’ll need to apply as if you’re registering for the first time.

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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=DLM1585420.

Topics:
Money and consumer rights > Banking and loans Business > Industry rules
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21: Notification of deregistration of financial service provider, or

"The law says the Registrar must tell people when a financial service provider is taken off the list"

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22A: Registrar must not reregister financial adviser if direction has been made, or

"The Registrar can't sign up a financial adviser again if they were told not to"

Part 2 Registration
Registration of financial service provider: Reregistration of financial service provider

22Reregistration of financial service provider

  1. The Registrar may reregister a financial service provider who was deregistered—

  2. on the grounds set out in section 18(1)(b) if the Registrar is satisfied that, at the time of deregistration, the financial service provider was in the business of providing a financial service and was required to be registered under section 11; or
    1. on the grounds set out in section 18(1)(d) if the Registrar is satisfied that the application fee or annual confirmation fee or levy has been paid.

      1. A reregistration is effective from the date of deregistration as if the deregistration had not occurred.

      2. If the Registrar reregisters a financial service provider, the Registrar must notify—

      3. the financial service provider; and
        1. any relevant licensing authority; and
          1. the public, by a notice that is publicly available on an Internet site (at all reasonable times) for not less than 20 working days.

            1. A financial service provider may not apply to be reregistered under this section after the date that is 60 days after the date of deregistration.

            2. This section does not prevent a person from making a new application for registration under section 15.

            Notes
            • Section 22(1)(a): replaced, on , by section 80(1) of the Financial Services Legislation Amendment Act 2019 (2019 No 8).
            • Section 22(1)(b): amended, on , by section 18 of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).
            • Section 22(4): inserted, on , by section 80(2) of the Financial Services Legislation Amendment Act 2019 (2019 No 8).
            • Section 22(5): inserted, on , by section 80(2) of the Financial Services Legislation Amendment Act 2019 (2019 No 8).