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Financial Markets Authority Act 2011

Financial Markets Authority - Provisions relating to meetings of FMA

19: Assent to resolution without meeting

You could also call this:

“FMA members can make decisions without meeting if they agree in writing”

You can make a decision about something important without having a meeting. If three members of the Financial Markets Authority (FMA) agree in writing, it’s just as good as if they had a proper meeting. They can do this by signing a paper, or by saying they agree in a letter, email, or other electronic message.

This rule is special and it works even though there’s another rule that says something different. The other rule is in a different law called the Crown Entities Act.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3231081.

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Part 2 Financial Markets Authority
Provisions relating to meetings of FMA

19Assent to resolution without meeting

  1. A resolution in writing signed, or assented to in writing (whether sent by post, delivery, or electronic communication), by 3 members of the FMA is as valid and effectual as if it had been passed at a meeting of the FMA duly called and constituted.

  2. This section applies despite clause 13(1) of Schedule 5 of the Crown Entities Act 2004.

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