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Financial Markets Authority Act 2011

General information-gathering and enforcement powers - Other powers - Power to state case for opinion of High Court

48: FMA may state case for opinion of High Court

You could also call this:

“FMA can ask the High Court for help with tricky legal questions”

The Financial Markets Authority (FMA) can ask the High Court for help when they’re not sure about a legal question. This can happen during any matter the FMA is dealing with under this law or other laws.

If the FMA asks for help, the High Court can decide to send the question to the Court of Appeal instead. This might happen if the question is very difficult or important.

Whether it’s the High Court or the Court of Appeal, they will look at the question carefully and give their opinion. Once they’ve made a decision, they will send their answer back to the FMA.

This process helps the FMA make sure they’re interpreting the law correctly when they’re dealing with complex issues.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3231732.

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"Keeping promises made to the FMA and what happens if you don't"

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Part 3 General information-gathering and enforcement powers
Other powers: Power to state case for opinion of High Court

48FMA may state case for opinion of High Court

  1. The FMA may, at any time, state a case for the opinion of the High Court on a question of law arising in a matter before it under this Act or any other enactment.

  2. The High Court may order the removal into the Court of Appeal of a case stated for the opinion of the High Court under this section.

  3. The High Court or the Court of Appeal, as the case may be, must hear and determine the question, and remit the case with its opinion to the FMA.

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