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Financial Markets Conduct Act 2013

Dealing in financial products on markets - Disclosure of interests of substantial product holders in listed issuers - Substantial holding disclosure obligations

273: Purposes of subpart

You could also call this:

"This law helps keep markets fair by making sure people know who's in charge of big companies."

Illustration for Financial Markets Conduct Act 2013

The purpose of this part of the law is to help you have a fair and informed market. It does this by making sure people who buy and sell financial products know who has control over big companies. This helps stop people from doing secret deals or cheating the system. You can find more information about the goals of the law in sections like section 3, 4, and 229. This part of the law does not change the purpose of section 290.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091393.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rulesBusiness > Fair trading
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272: No contravention of continuous disclosure provisions by person who takes reasonable steps to ensure listed issuer complies, or

"You won't get in trouble if you try your best to help a company follow the rules."

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274: Meaning of substantial product holder, substantial holding, and percentage, or

"What it means to own a big part of a company"

Part 5Dealing in financial products on markets
Disclosure of interests of substantial product holders in listed issuers: Substantial holding disclosure obligations

273Purposes of subpart

  1. The purposes of this subpart are to promote an informed market, and to deter insider conduct, market manipulation, and secret dealings in potential takeover bids, by ensuring that participants in financial product markets have access to information concerning the identity and trading activities of persons who are, or may at any time be, entitled to control or influence the exercise of significant voting rights in a listed issuer.

  2. This section does not limit—

  3. any of section 3, 4, or 229; or
    1. the purpose of section 290.