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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

293: Listed issuers must make available information on substantial holdings

You could also call this:

"Public companies must share information about their major shareholders."

Illustration for Financial Markets Conduct Act 2013

If you are a listed issuer, you must make certain information available. This information includes the names of people who have a substantial holding in your company as at each balance date, according to your records and disclosures made under section 280(1)(b). You must also provide the number and class of quoted voting products that form part of each substantial holding in your company as at each balance date.

You need to make this information available in your annual report if you are required to prepare one under the Companies Act 1993 or any other enactment. If you are not required to prepare an annual report, you must send a notice to every holder of your quoted voting products within three months after the balance date.

If you do not make this information available, you can commit an offence and be liable for a fine of up to $50,000. This offence is also an infringement offence, which is explained in subpart 5 of Part 8.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091430.

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292: Form and method of notice requiring disclosure, or

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

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294: No liability for publication of substantial holdings, or

"You're not in trouble if you share wrong information by mistake, as long as you didn't know it was wrong."

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

293Listed issuers must make available information on substantial holdings

  1. Every listed issuer must, in accordance with this section, make available the following information:

  2. the names of all persons who, according to the issuer's records and disclosures made under section 280(1)(b), are substantial product holders in the listed issuer as at each balance date; and
    1. the number and class of quoted voting products of the listed issuer that, according to the issuer's records and disclosures made under section 280(1)(b), form part of each substantial holding in the listed issuer as at each balance date; and
      1. the total number of voting products in each of those classes as at each balance date.

        1. The information must be made available,—

        2. for listed issuers that are required to prepare an annual report under the Companies Act 1993 or any other enactment, in the annual report for the period ending on the balance date; and
          1. for every other listed issuer, in a notice sent to every holder of its quoted voting products not later than 3 months after the balance date.

            1. A listed issuer that contravenes this section commits an offence and is liable on conviction to a fine not exceeding $50,000.

            2. The offence in this section is an infringement offence (see subpart 5 of Part 8).

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