40AObligation to notify Registrar if new person concerned in management of company

1. This section applies if—

2. a person becomes concerned in the management of a company that is registered under this Act as a motor vehicle trader; and
3. the person was not concerned in the management of the company at the time the company last applied for registration or renewal of registration under this Act.

4. Within 20 working days of the person becoming concerned in the management of the company, the motor vehicle trader must notify the Registrar that a new person has become concerned in the management of the company.

5. The notification must be in writing and must—

6. set out the full name, residential address, email address, date of birth, and occupation of the new person; and
7. include evidence that satisfies the Registrar of the identity of the new person (for example, a certified copy of that person’s driver licence or passport); and
8. include a statutory declaration by the new person that states that he or she is not disqualified from registration as a motor vehicle trader in his or her own right; and
9. include the prescribed fee (if any) for notification under this section.

10. For the purposes of subsection (3), full name has the meaning given in section 6(1), but the notification must include the person’s full name as stated on their driver licence or passport.

11. If the new person ordinarily spends fewer than 300 days each calendar year in New Zealand, the notification need not include the statutory declaration required by subsection (3)(b), but must instead include a certificate signed by the new person stating that he or she is not disqualified from registration as a motor vehicle trader in his or her own right.

12. The option referred to in subsection (4) is not available if there are already 3 people concerned in the management of the company who have taken advantage of that option and have not since supplied a statutory declaration of the kind referred to in subsection (3)(b).