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Financial Service Providers (Registration and Dispute Resolution) Act 2008

Dispute resolution - Financial service provider must be member of dispute resolution scheme

49C: Revocation of certification

You could also call this:

"How to cancel your special investor status with a financial company"

If you are a client who is an eligible investor, you can cancel a certification you have given to a financial service provider. To do this, you need to give the financial service provider a signed notice saying that you want to cancel the certification.

When you cancel a certification, it only affects services that the financial service provider gives you after you have given them the cancellation notice. It doesn't change anything about services you received before you cancelled.

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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=DLM3080333.

Topics:
Money and consumer rights > Banking and loansMoney and consumer rights > Consumer protection
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49B: Acceptance of certification, or

"When someone says they're a big business customer, you need to check they really understand what that means"

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49D: How to opt out of being wholesale client, or

"How to tell your financial service provider you don't want to be a wholesale client anymore"

Part 3Dispute resolution
Financial service provider must be member of dispute resolution scheme

49CRevocation of certification

  1. A client who is an eligible investor may revoke a certification, in relation to a financial service provider to whom the certification has been given, by giving the financial service provider a signed notification to that effect.

  2. A revocation is effective only in relation to services provided after it is given.

Notes
  • Section 49C: inserted, on , by section 27 of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).