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Credit Contracts and Consumer Finance Act 2003

Certification and fit and proper person requirements - Expiry, suspension, or cancellation of certifications

131O: Duration of certification

You could also call this:

"How long your certification lasts"

Illustration for Credit Contracts and Consumer Finance Act 2003

You have a certification that lasts for a certain time. It ends on the earlier of two dates: five years after it was issued, or its expiry date. If you apply for a new certification within two months of the old one ending, and the application is not finished before the old one ends, the old certification keeps going until the application is finished. The old certification will continue until your new application is dealt with, this is stated in section 407 and was amended by the Credit Contracts Legislation Amendment Act 2019.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS502531.

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Topics:
Work and jobs > Job licenses
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131N: Procedure for variation of conditions, or

"How the Commission changes or refuses to change contract conditions"

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131P: When Commission may suspend or cancel certification, or

"When the Commission can stop or cancel your certification"

Part 5ACertification and fit and proper person requirements
Expiry, suspension, or cancellation of certifications

131ODuration of certification

  1. A certification continues in force (unless it is cancelled before then) until the earlier of the following dates (the termination date):

  2. the date that is 5 years after the date on which it is issued:
    1. its expiry date (if any).

      1. Subsection (3) applies if—

      2. a certified person applies for a new certification no later than 2 months before the termination date of an existing certification that the new certification is intended to supersede; and
        1. the application is not disposed of before the termination date.

          1. The existing certification continues in force until the application is disposed of.

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