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Financial Markets Conduct Act 2013

Governance of financial products - Registers and keeping copies of documents - Registers

217: Contents of registers

You could also call this:

"What information must be kept in a register when issuing regulated products"

Illustration for Financial Markets Conduct Act 2013

When you issue regulated products, you must keep a register with certain information. You need to include the name and address of the person who holds the product, the date it was issued or transferred, and what type of product it is. You also need to include the amount of the product and when it is due, if that applies.

If you are keeping a register, you do not have to include some information if certain circumstances apply. You cannot enter notice of a trust on the register, except in certain circumstances. The register is evidence of the information it contains.

If you do not follow these rules, you can commit an offence and be fined up to $50,000. This offence is an infringement offence, see subpart 5 of Part 8. You can find more information about infringement offences in that part of the Act.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091241.

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Part 4Governance of financial products
Registers and keeping copies of documents: Registers

217Contents of registers

  1. Every issuer of regulated products must ensure that every register kept by, or on behalf of, the issuer under this subpart contains, in respect of every financial product entered in the register,—

  2. the name and address of the holder; and
    1. the date on which the product was issued or transferred to the holder, as the case may be; and
      1. the nature of the product; and
        1. the amount of the product (if any); and
          1. the due date of the product (if any); and
            1. all other prescribed particulars (if any).

              1. However, a register is not required to contain the information specified in a paragraph in subsection (1) if the circumstances prescribed in respect of that paragraph apply.

              2. No notice of any trust, expressed, implied, or constructive, may be entered on a register kept under this subpart (except in the prescribed circumstances).

              3. Every register kept under this subpart is prima facie evidence of the matters required by this Act to be entered in it.

              4. An issuer that contravenes this section commits an offence and is liable on conviction to a fine not exceeding $50,000.

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

              Compare
              Notes
              • Section 217(1A): inserted, on , by section 64 of the Regulatory Systems (Commercial Matters) Amendment Act 2017 (2017 No 12).