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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

276: Persons must disclose if begin to have substantial holding

You could also call this:

"Tell the company if you own a big part of it"

Illustration for Financial Markets Conduct Act 2013

If you start to have a substantial holding in a listed issuer, you must tell them about it. You must do this in the way set out in sections 280 and 281. You have to give this information as soon as you know, or should know, that you have this substantial holding.

When you find out you have a substantial holding, you need to act quickly. You must give the disclosure as soon as possible after you know about your substantial holding. This means telling them about it right away, without delay.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091402.

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275: Person may be treated as holding financial products where person has relevant interest in certain derivatives, or

"If you have a special interest in a bet on a market product, you might be treated as owning that product."

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277: Substantial product holders must disclose if subsequent movement of 1% or more in holdings, or

"Big shareholders must disclose share changes of 1% or more"

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

276Persons must disclose if begin to have substantial holding

  1. A person who begins to have a substantial holding (or another substantial holding for another class) in a listed issuer must disclose that fact in accordance with sections 280 and 281.

  2. The disclosure must be given as soon as the person knows, or ought reasonably to know, that the person has the substantial holding.

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