If you are in charge of a debt security and you change the supervisor, you must tell the Registrar within 5 working days. This is because of a rule under section 122. You must make sure the Registrar gets the notice of the change. If you do not do this, you can get in trouble and have to pay a fine of up to $50,000. This trouble is called an infringement offence, which is explained in more detail in subpart 5 of Part 8.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

This page was last updated on 15 July 2025

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091104.

Topics:

Money and consumer rights > Banking and loansBusiness > Industry rulesBusiness > Fair trading

122: Change of supervisor, or

"What happens when a supervisor of a debt security stops doing their job"

124: Overview, or

"What investment schemes must do to follow the law"

Part 4Governance of financial products
Governance of debt securities: Change of supervisor

123Lodging of notice of change of supervisor

Within 5 working days after a change to the supervisor of a debt security under section 122, the issuer must ensure that notice of the change is lodged with the Registrar.
An issuer that contravenes this section commits an offence and is liable on conviction to a fine not exceeding $50,000.
The offence in this section is an infringement offence (see subpart 5 of Part 8).