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Financial Markets Authority Act 2011

Financial Markets Authority - Provisions relating to meetings of FMA

17: Quorum for meetings of FMA

You could also call this:

“How many FMA members must attend meetings for decisions to be made”

When the Financial Markets Authority (FMA) has a meeting, they need at least three members to be there before they can make any decisions. This is called a quorum.

You should know that this rule and another rule called section 18 are different from what’s written in another law. That other law is called the Crown Entities Act 2004, and it has a part called clause 9(1) in Schedule 5. But for the FMA, these special rules apply instead of that one.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3231079.

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Part 2 Financial Markets Authority
Provisions relating to meetings of FMA

17Quorum for meetings of FMA

  1. At any meeting of the FMA, the quorum necessary for the transaction of business is 3 members.

  2. This section and section 18 apply despite clause 9(1) of Schedule 5 of the Crown Entities Act 2004.

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