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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 - Exemptions

286: Conditions of exemption for corporate trustees and nominee companies

You could also call this:

"Rules for companies that look after other people's investments"

Illustration for Financial Markets Conduct Act 2013

If you are a corporate trustee or nominee company, you must keep checking the transactions of people for whom you hold quoted voting products in your name. You have to tell the listed issuer of the financial products and the operator of the licensed market if certain rules, like section 276 or 279, apply to any of those people. You also have to inform the operator if you use, or plan to use, voting rights for 5% or more of a class of quoted voting products of a listed issuer.

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285: Exemption for corporate trustees and nominee companies, or

"Some companies don't have to follow certain finance rules if they're working for someone else."

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287: Exemption for persons under control or acting jointly with corporate trustees and nominee companies, or

"Some rules don't apply to you if a company you're connected to doesn't have to follow them"

Part 5Dealing in financial products on markets
Disclosure of interests of substantial product holders in listed issuers: Exemptions

286Conditions of exemption for corporate trustees and nominee companies

  1. A person (A) to whom section 285(1) applies must—

  2. keep under continuing review the transactions of all persons for whom A holds, in A's name, quoted voting products; and
    1. inform the listed issuer of the financial products and the operator of the licensed market by which those products are quoted if section 276 or 279 applies to any of those persons; and
      1. inform that operator if A exercises, or proposes to exercise, in A's own right any voting rights in respect of 5% or more of a class of quoted voting products of a listed issuer.

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