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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 - Tracing and disclosure of interests in listed issuers

291: Listed issuer may require person who has relevant interest to disclose information to it

You could also call this:

"Companies can ask you for information if you own a big part of their business"

Illustration for Financial Markets Conduct Act 2013

If you have a relevant interest in a listed issuer's quoted voting products, the listed issuer can ask you to give them information. They can do this by sending you a written notice, and they are trying to figure out who has a big stake in their company. You have to give them the information they ask for in writing as soon as you can after you get their notice.

The listed issuer wants this information to help them work out who is a substantial product holder, which means someone who has a big interest in their company. When the listed issuer asks you for information, you must respond quickly. You can see how this rule has changed over time by looking at the Securities Amendment Act 1988.

You should give the listed issuer the information they need in writing, and make sure you do it as soon as possible after you get their request.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091423.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rulesBusiness > Fair trading
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290: Listed issuer may require registered holder or relevant interest holder to disclose relevant interests to it, or

"Companies can ask shareholders to reveal who else has a stake in the company"

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292: Form and method of notice requiring disclosure, or

"Telling someone they must give you information: how to do it"

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

291Listed issuer may require person who has relevant interest to disclose information to it

  1. A listed issuer may, by written notice, require a person who the listed issuer believes has, or may have, a relevant interest in quoted voting products of the listed issuer to disclose the information the listed issuer specifies for the purpose of assisting the listed issuer to ascertain who is, or may be, a substantial product holder in the listed issuer.

  2. The relevant interest holder must disclose the information required under subsection (1) in writing to the listed issuer as soon as practicable after the holder receives the notice.

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