Financial Markets Conduct Act 2013

Governance of financial products - Governance of managed investment products - Change of manager

192: Lodging of notice of changes to manager

You could also call this:

"Telling the Registrar about a new manager of a scheme"

Illustration for Financial Markets Conduct Act 2013

If you are the new manager of a registered scheme, you must tell the Registrar about the change within 5 working days. You do this by lodging a notice of the change with the Registrar. If you do not do this, you can get a fine of up to $50,000.

If you break this rule, you commit an offence. The Registrar is the person who keeps track of these changes. You can learn more about what happens if you break this rule by looking at subpart 5 of Part 8.

You must follow this rule to avoid getting in trouble. The fine for breaking this rule is a lot of money, so it is important to lodge the notice on time.

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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=DLM4091205.

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191: Statutory novation of rights, obligations, and liabilities of former manager, or

"What happens to a scheme's old manager's jobs and responsibilities when a new manager takes over"

193: Change of supervisor, or

"What happens when a supervisor of a scheme is removed or stops their job"

Part 4Governance of financial products
Governance of managed investment products: Change of manager

192Lodging of notice of changes to manager

Within 5 working days after a change to the manager of a registered scheme, the new manager must ensure that notice of the change 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).