Financial Markets Conduct Act 2013

Preliminary provisions - Interpretation

13: Miscellaneous interpretation provisions relating to statements and information

You could also call this:

"Understanding what statements and information mean in the Financial Markets Conduct Act 2013"

When you read the Financial Markets Conduct Act 2013, you need to understand what it means by false, misleading, deceptive, or confusing statements. This includes statements that are false because of how they are presented or the information that is left out. You have to consider the context in which the statement is made.

If you are looking at a document like a Product Disclosure Statement, you have to consider all the information in it to decide if it is false, misleading, deceptive, or confusing. This includes information that is directly in the document, on the front of it, or in other documents that it refers to. You also have to look at any financial statements or reports that come with it.

Sometimes a document will refer to a specific webpage or section of another document. In this case, you only need to look at that specific page or section, unless the regulations say otherwise. If the Act says that certain information must be in a document, it can only be referred to in another document if the regulations allow it.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4090941.


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Part 1Preliminary provisions
Interpretation

13Miscellaneous interpretation provisions relating to statements and information

  1. In this Act and the regulations, a reference to a statement or other information that is false, misleading, deceptive, or confusing includes a reference to a statement or information that is false, misleading, deceptive, or confusing (as the case may be) by reason of—

  2. the form or context in which the statement or information is made, published, or provided; or
    1. the omission of any other information that is material in the form and context in which it is made, published, or provided.
      1. For the purpose of considering whether a PDS, a register entry, or any other document or communication provided under this Act is false, misleading, deceptive, or confusing, a statement or other information must be treated as being included in the PDS, register entry, or other document or communication if it—

      2. is contained in the PDS, register entry, or document or communication (as the case may be); or
        1. appears on the face of the PDS, register entry, or document or communication (as the case may be); or
          1. is contained in any financial statements, report, or other document that accompanies, or is incorporated by reference or referred to in, or distributed with, the PDS, register entry, or document or communication (as the case may be).
            1. For the purposes of this section, if a PDS, a register entry, or any other document or communication specifically identifies a particular page or section of an Internet site or of another document, only that page or section is incorporated by reference or referred to in the PDS, register entry, or other document or communication (except in the prescribed circumstances).

            2. If this Act or the regulations require information or any other matter to be contained or included in a PDS, register entry, or document or communication, the information or other matter may be incorporated by reference only if this is authorised by the regulations.

            Notes
            • Section 13(1): amended, on , by section 48 of the Regulatory Systems (Commercial Matters) Amendment Act 2017 (2017 No 12).