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Financial Markets Conduct Act 2013

Governance of financial products - Governance of debt securities - Governing document requirements

107: Effect of trust deed

You could also call this:

"What happens if a trust deed disagrees with the Financial Markets Conduct Act 2013 rules"

Illustration for Financial Markets Conduct Act 2013

If you have a trust deed for a debt security, it does not work if it goes against this Act, the regulations, or any terms that are automatically part of it because of this Act or the regulations. You need to know that this Act is the Financial Markets Conduct Act 2013. When you read the trust deed, you should check if it agrees with the rules in this Act and the regulations.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091085.

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106: Trust deed must be legally enforceable, or

"A trust deed for a debt security must be a legal document that everyone involved agrees to follow."

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108: Changes to trust deed, or

"How to make changes to the rules of a debt security trust"

Part 4Governance of financial products
Governance of debt securities: Governing document requirements

107Effect of trust deed

  1. A trust deed for a debt security has no effect to the extent that it contravenes, or is inconsistent with, this Act, the regulations, or any term implied into it by this Act or the regulations.