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Financial Markets Conduct Act 2013

Disclosure of offers of financial products - Procedure for making regulated offers - Other provisions relating to lodging of PDS and other documents

67: Waiting period restriction does not prevent offeror from acting under another PDS

You could also call this:

"You can still use another document for a financial product if one document has a waiting period."

If a waiting period applies to one document about a financial product, it does not stop you from using another document about the same product. You can use the other document if it is not subject to the waiting period. This means you can accept applications for, or issue or transfer, financial products using the other document, as long as you follow the rules of the Financial Markets Conduct Act, which you can find out more about by looking at section 65.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091015.

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66: FMA may extend period, or

"The law boss can give you more time to do something, and they will tell you in writing."

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68: FMA may remove restrictions if its consideration complete or consideration or further consideration unnecessary, or

"The FMA can lift some rules if it's finished checking or doesn't need to check something."

Part 3Disclosure of offers of financial products
Procedure for making regulated offers: Other provisions relating to lodging of PDS and other documents

67Waiting period restriction does not prevent offeror from acting under another PDS

  1. If section 65 applies to a PDS that relates to a particular offer of financial products but another lodged PDS that is not or is no longer subject to section 65 also relates to the offer of those products, that section does not prevent an offeror, in accordance with this Act, from accepting applications for, or issuing or transferring, financial products in reliance upon the other PDS.