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Financial Markets Authority Act 2011

General information-gathering and enforcement powers - Other powers - Power to make confidentiality orders

44: Power to make confidentiality orders

You could also call this:

“FMA can keep certain information secret during their work”

The Financial Markets Authority (FMA) can make orders to keep information secret. This means they can stop people from sharing or publishing certain information. They can do this for any information, documents, or evidence that they get during their work.

The FMA can decide to make these orders on their own, or someone can ask them to do it. When they make these orders, they can add rules about how the order works.

These secret-keeping orders can last for different amounts of time. They might last for the whole time the FMA is working on something, or they might be for a shorter time.

When the FMA finishes their work, two important laws start to apply to the information that was kept secret. These laws are called the Official Information Act and the Privacy Act. These laws help decide what happens to the information next.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3231726.

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43: Transitional provisions, or

"Rules for handling old and new financial market issues"

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45: Publication or disclosure with FMA's consent, or

"You can share secret information if the FMA says it's okay"

Part 3 General information-gathering and enforcement powers
Other powers: Power to make confidentiality orders

44Power to make confidentiality orders

  1. The FMA may, on its own initiative or on the application of any person, make an order prohibiting the publication or communication of any information, document, or evidence that is provided or obtained in connection with any inquiry, investigation, or other proceeding of the FMA under this Act or any other enactment.

  2. The FMA may make an order under subsection (1) on the terms and conditions (if any) that it thinks fit.

  3. An order under subsection (1) may be expressed to have effect—

  4. from the commencement of any inquiry, investigation, or other proceeding of the FMA to the end of that inquiry, investigation, or proceeding; or
    1. for any shorter period.

      1. At the end of the inquiry, investigation, or proceeding, the Official Information Act 1982 and the Privacy Act 2020 apply to any information or document or evidence that was the subject of the order under subsection (1).

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      Notes
      • Section 44(4): amended, on , by section 217 of the Privacy Act 2020 (2020 No 31).