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Financial Markets Conduct Act 2013

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

224: Reasons for request must be given and FMA may authorise non-compliance

You could also call this:

"You must say why you want information from a register and the FMA can allow delays."

Illustration for Financial Markets Conduct Act 2013

When you ask for information from a register, you must say why you want it. You also need to say how you plan to use the information. The person who looks after the register can send your reasons to the Financial Markets Authority (FMA). If they send your reasons to the FMA within five working days, they have a bit more time to give you the information. They then have 10 working days to respond to your request. The FMA can tell the register keeper they do not have to give you the information within those 10 working days, if they send a written notice saying so.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091249.

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223: Copies of documents, or

"Getting a copy of a document you are allowed to see"

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225: Restriction on use of information in registers, or

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

224Reasons for request must be given and FMA may authorise non-compliance

  1. A person who makes a request under section 223(1) (other than a request for information about that person) must include in the request a statement of the person's reasons for the request (including the purpose for which the person intends to use the copy of, or extract from, the register), and the issuer may, if it thinks fit, provide a copy of that statement to the FMA.

  2. If the issuer provides a copy of the statement to the FMA before the expiry of the 5-working-day period referred to in section 223(1)(a),—

  3. the period within which the request may be complied with is 10 working days after the person made the request (rather than 5 working days); and
    1. the issuer does not have to comply with the request at all if the FMA, within that 10-working-day period, gives written notice to the issuer that it is not required to comply.