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Credit Contracts and Consumer Finance Act 2003

Certification and fit and proper person requirements - Requirement for certification

131C: Exemptions from need for certification

You could also call this:

"When you don't need a special certificate to lend money"

Illustration for Credit Contracts and Consumer Finance Act 2003

You do not need a certificate under section 131B if you are a licensed provider approved by a licensing authority listed in Schedule 2 of the Financial Service Providers Act. You are also exempt if you are a prescribed exempt person. You are exempt from the certification requirement for a service if it is a prescribed exempt service.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS564345.

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Topics:
Money and consumer rights > Banking and loans
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131B: When person needs to be certified, or

"Who needs to get a special certificate to lend money or sell things"

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131D: Prohibitions on holding out that person is certified, or

"Don't pretend to be certified if you're not"

Part 5ACertification and fit and proper person requirements
Requirement for certification

131CExemptions from need for certification

  1. A person is exempt from the certification requirement under section 131B to the extent that the person—

  2. is a licensed provider that is licensed, registered, authorised, or otherwise approved to provide a licensed service by a licensing authority listed in Schedule 2 of the Financial Service Providers (Registration and Dispute Resolution) Act 2008; or
    1. is a prescribed exempt person.

      1. A person is also exempt from the certification requirement in respect of a service to the extent that a service is a prescribed exempt service.

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