Plain language law

New Zealand law explained for everyone

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

74: Registrar must notify FMA of lodgement of supplementary document or replacement PDS

You could also call this:

"Registrar must tell the FMA when you add or replace important documents"

When you lodge a supplementary document or a replacement PDS, the Registrar must tell the FMA right away. The FMA will then consider the supplementary document or replacement PDS, but they get to decide how much time and thought they put into it. You should know that the rules in Section 65 do not apply when you lodge a supplementary document or replacement PDS.

The FMA has the power to choose what they do with the supplementary document or replacement PDS. They might look at it carefully or just briefly, it's up to them to decide. The Registrar's job is just to let the FMA know that the document has been lodged.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091022.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rules
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73: Replacement PDS, or

"Updating the main information document with a new version"

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75: Publication of lodgement, or

"Telling people you've lodged a document on your website"

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

74Registrar must notify FMA of lodgement of supplementary document or replacement PDS

  1. The Registrar must, immediately after a supplementary document or replacement PDS is lodged, notify the FMA of the lodgement for the purpose of allowing the FMA an opportunity to consider the supplementary document or replacement PDS.

  2. The nature and extent of the consideration (if any) that the FMA gives to a supplementary document or replacement PDS are at the FMA's discretion.

  3. Section 65 does not apply to the lodgement of a supplementary document or replacement PDS.

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