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Financial Markets Conduct Act 2013

Fair dealing - Misleading or deceptive conduct, false or misleading representations, and unsubstantiated representations

28: Certain conduct does not contravene various provisions

You could also call this:

"Some rule-breaking actions don't break other rules in the Financial Markets Conduct Act."

If you do something that breaks certain rules, like those in section 82, 99, 262, 265, 427, 431P, 431Y, or clause 27 of Schedule 1, it does not break other rules, like those in sections 19 to 23. You must consider that you have broken these rules even if you have a defence, or if breaking the rules does not lead to any punishment. This means you can still be considered to have broken the rules even if you are not punished for 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=DLM4090953.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rulesBusiness > Fair trading
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27: Section 23 subject to other enactments, or

"Section 23 might not apply if another law already covers what you can say in your trade or business."

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29: Limited application of provisions in relation to newspapers, magazines, broadcasting, etc, or

"Some finance rules don't apply to newspapers, magazines, TV, or the internet unless they're trying to sell you something."

Part 2Fair dealing
Misleading or deceptive conduct, false or misleading representations, and unsubstantiated representations

28Certain conduct does not contravene various provisions

  1. Conduct that contravenes section 82, 99, 262, 265, 427, 431P, or 431Y or clause 27 of Schedule 1 does not contravene sections 19 to 23.

  2. For the purpose of this section, conduct must be treated as contravening section 82, 99, 262, 265, 427, 431P, or 431Y or clause 27 of Schedule 1 even if the conduct does not constitute an offence, or does not lead to any liability, because of the availability of a defence.

Notes
  • Section 28(1): amended, on , by section 10 of the Financial Services Legislation Amendment Act 2019 (2019 No 8).
  • Section 28(2): amended, on , by section 10 of the Financial Services Legislation Amendment Act 2019 (2019 No 8).