Financial Markets Conduct Act 2013

Governance of financial products - Governance of managed investment products - Governing document requirements

141: Lodging of changes to governing document

You could also call this:

"Tell the Registrar about changes to your scheme's rules within 5 working days"

Illustration for Financial Markets Conduct Act 2013

If you are the manager of a registered scheme and you make changes to or replace your governing document, you must tell the Registrar within 5 working days. You need to send the Registrar a notice of the change or replacement, and a copy of the certificate for the change or replacement if you have one. This is an important step to follow.

If you do not follow this rule, you can get in trouble and have to pay a fine of up to $50,000. This is because not following the rule is considered an offence.

You can find more information about this type of offence in subpart 5 of Part 8, which explains what happens if you break this rule.

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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=DLM4091132.

Topics:

Money and consumer rights > Banking and loansBusiness > Industry rules

140: Power to make FMA and court-approved changes to governing documents, or

"Changing the rules of a registered scheme with FMA or court approval"

142: Management and administration functions of manager, or

"The person in charge of a scheme is responsible for managing it and making sure everything runs smoothly."

Part 4Governance of financial products
Governance of managed investment products: Governing document requirements

141Lodging of changes to governing document

Within 5 working days after an amendment to or a replacement of a governing document, the manager of a registered scheme must ensure that notice of the amendment or replacement, and a copy of the certificate for the amendment or replacement (if any), is lodged with the Registrar.
A manager 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).