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Financial Markets Authority Act 2011

Miscellaneous provisions - Transitional provisions - Disestablishment of Securities Commission

73: References to Securities Commission

You could also call this:

“Replacing 'Commission' with 'FMA' in old documents”

When you see the word “Commission” in any official document or communication made before or on the day this law started, you should think of it as meaning the FMA instead. This applies to all sorts of official papers, records, and notices.

If you see a mention of someone who worked for the Commission in these documents, you should understand it to mean either someone doing a similar job at the FMA, or if there isn’t a similar job, any FMA employee that the FMA chooses.

These rules about changing “Commission” to “FMA” usually apply, but there might be times when they don’t work. Also, there are some other parts of the law that might change how these rules work.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3231782.

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72: Consequences of disestablishment, or

"What happens when the Securities Commission is replaced by the Financial Markets Authority"

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74: Transfer of employees, or

"Rules for employees moving from the Securities Commission to the Financial Markets Authority"

Part 4 Miscellaneous provisions
Transitional provisions: Disestablishment of Securities Commission

73References to Securities Commission

  1. A reference (express or implied) to the Commission in any enactment (other than this Act), or in any instrument, register, record, notice, security, document, or communication made, given, passed, or executed before or on the commencement date, must be read as a reference to the FMA.

  2. A reference (express or implied) to an officer or employee of the Commission in any enactment, or in any instrument, register, record, notice, security, document, or communication made, given, passed, or executed before or on the commencement date must be read as a reference to—

  3. the corresponding employee of the FMA; or
    1. if there is no corresponding employee, any other employee of the FMA as the FMA thinks fit.

      1. This section—

      2. applies unless the context otherwise requires; and
        1. is subject to subpart 3 and the Securities Amendment Act 2011.