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Credit Contracts and Consumer Finance Act 2003

Certification and fit and proper person requirements - Issue of certifications

131G: When certification must be issued

You could also call this:

"When the Commission must give you a certification"

Illustration for Credit Contracts and Consumer Finance Act 2003

You apply for a certification under section 131F. The Commission gets your application. They must issue a certification if they think the people in charge are fit and proper. You can check section 131L to see if the Commission can add conditions to the certification. The Commission makes this decision after you apply.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS502519.

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131F: Application for certification, or

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131H: Procedural requirements, or

"How the Commission makes decisions about certification"

Part 5ACertification and fit and proper person requirements
Issue of certifications

131GWhen certification must be issued

  1. The Commission must, after receiving an application under section 131F, issue a certification if the Commission is satisfied that the applicant’s directors, senior managers, and proposed directors and senior managers, are fit and proper persons to hold their respective positions.

  2. See section 131L for the Commission’s power to impose conditions when it issues a certification.

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Notes
  • Section 131G: inserted, on , by section 50 of the Credit Contracts Legislation Amendment Act 2019 (2019 No 81).