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Financial Markets Authority Act 2011

General information-gathering and enforcement powers - Miscellaneous provisions relating to powers - FMA may authorise person to obtain information or documents

55: Protection from liability for persons exercising powers

You could also call this:

“People working for the FMA won't get in trouble for doing their job”

You are protected from legal consequences if you act on behalf of the Financial Markets Authority (FMA) to get information or documents. This protection applies when you use your powers under section 25 or 54 of the law. You won’t be held responsible for anything you do or don’t do while using these powers. However, this protection doesn’t apply if you act in bad faith. Bad faith means you do something dishonestly or with harmful intentions.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3231746.

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54: Non-disclosure of information or documents from exercise of powers under section 25 except in certain circumstances, or

"When and how you can share special information from section 25"

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56: Witnesses and counsel to have privileges of witnesses and counsel in court, or

"People talking to the FMA have the same rights as in court"

Part 3 General information-gathering and enforcement powers
Miscellaneous provisions relating to powers: FMA may authorise person to obtain information or documents

55Protection from liability for persons exercising powers

  1. Without limiting any other statutory protection from liability, no person is liable for any act done or omitted to be done by the person in the exercise or intended exercise of the person's powers under section 25 or 54 unless the person acts in bad faith.

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