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New Zealand law explained for everyone

Financial Markets Authority Act 2011

Financial Markets Authority - Establishment of FMA

7: FMA is Crown entity

You could also call this:

“The FMA is a special part of the New Zealand government with its own rules”

The Financial Markets Authority (FMA) is a special organisation that is part of the New Zealand government. It’s called a Crown entity. This means it has to follow certain rules set out in a law called the Crown Entities Act 2004. However, sometimes the Financial Markets Authority Act 2011 might say something different from the Crown Entities Act. When this happens, the FMA follows what the Financial Markets Authority Act says instead.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3231065.

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6: Financial Markets Authority established, or

"New government team created to watch over money matters"

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8: FMA's main objective, or

"The FMA aims to make financial markets fair and easy for everyone"

Part 2 Financial Markets Authority
Establishment of FMA

7FMA is Crown entity

  1. The FMA is a Crown entity for the purposes of section 7 of the Crown Entities Act 2004.

  2. The Crown Entities Act 2004 applies to the FMA except to the extent that this Act expressly provides otherwise.