If you are in charge of a registered scheme and you get a new supervisor, you must tell the Registrar about the change within 5 working days. You do this by lodging a notice with the Registrar. If you do not do this, you can get in trouble and have to pay 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 schemes. 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 with the law.

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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=DLM4091208.

Topics:

Money and consumer rights > Banking and loansBusiness > Industry rules

193: Change of supervisor, or

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

195: Cancellation of registration, or

"What happens when a scheme's registration is cancelled by the Financial Markets Authority"

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

194Lodging of notice of change of supervisor

Within 5 working days after a change of supervisor of a registered scheme, the 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).