Financial Markets Authority Act 2011

General information-gathering and enforcement powers - FMA may exercise person’s right of action

41: Proceedings must not be settled, compromised, or discontinued without approval

You could also call this:

"You need permission to end or change a legal case"

If someone starts legal proceedings or takes over existing proceedings under this part of the law, they can't settle the case, make a compromise, or stop the proceedings without getting permission from the High Court. This rule applies to all cases that fall under this specific section of the law. The High Court needs to approve any decision to end or change the proceedings before it can happen.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3231723.


Previous

40: FMA must consult person A, or

"The FMA must talk to you about legal actions they take about you, unless it makes things too difficult for them"


Next

42: Special limitation provision, or

"Legal time limits for FMA start when they ask permission to sue"

Part 3General information-gathering and enforcement powers
FMA may exercise person’s right of action

41Proceedings must not be settled, compromised, or discontinued without approval

  1. No proceedings commenced or taken over under this subpart may be settled, compromised, or discontinued without the approval of the High Court.