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Financial Markets Conduct Act 2013

Governance of financial products - Governance of managed investment products - Management of scheme

166: Lodging of statement of investment policy and objectives and changes to statement

You could also call this:

"Telling the Registrar about your investment plans and any changes to them"

Illustration for Financial Markets Conduct Act 2013

If you are the manager of a registered scheme, you must lodge the statement of investment policy and objectives with the Registrar before you make a regulated offer of managed investment products or issue any products. You must do this except in certain prescribed circumstances. You will also need to lodge any changes to the statement with the Registrar within 5 working days after the change takes effect.

If you do not do this, you will commit an offence and could be fined up to $50,000 if you are convicted. This offence is also an infringement offence, see subpart 5 of Part 8.

You need to follow these rules to manage a registered scheme correctly.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091162.

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165: Changes to statement of investment policy and objectives, or

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Part 4Governance of financial products
Governance of managed investment products: Management of scheme

166Lodging of statement of investment policy and objectives and changes to statement

  1. The manager of a registered scheme must, except in the prescribed circumstances,—

  2. lodge the statement of investment policy and objectives with the Registrar before a regulated offer of managed investment products is made or, if no regulated offer is made, before any managed investment product is issued; and
    1. lodge any change to the statement of investment policy and objectives with the Registrar within 5 working days after the change takes effect.

      1. A manager that contravenes this section commits an offence and is liable on conviction to a fine not exceeding $50,000.

      2. The offence in this section is an infringement offence (see subpart 5 of Part 8).