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Financial Markets Conduct Act 2013

Dealing in financial products on markets - Licensing of markets for trading financial products - Issue of licence

318: Conditions of licence

You could also call this:

"Rules you must follow when you have a financial market licence"

Illustration for Financial Markets Conduct Act 2013

When you get a financial product market licence, it comes with some conditions. You can only operate the financial product market that is covered by your licence, as described in the licence. You must also follow certain rules for clearing and settlement arrangements for the financial product markets covered by your licence.

The licence will also specify how breaches of the market rules will be enforced. The Minister can impose other conditions on your licence if they think it is necessary. You can find out more about how the Minister can vary the conditions of your licence in section 322.

You must comply with all the conditions of your licence.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091468.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rulesBusiness > Fair trading
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Part 5Dealing in financial products on markets
Licensing of markets for trading financial products: Issue of licence

318Conditions of licence

  1. A financial product market licence is subject to the following conditions:

  2. a condition that the licensed market operator may, under the licence, operate only the financial product market covered by the licence (as described in the licence); and
    1. a condition that specifies the clearing and settlement arrangements that must be followed or the type of settlement arrangements that may be used for the financial product markets covered by the licence; and
      1. a condition that specifies the arrangements for enforcing breaches of the market rules; and
        1. any other conditions imposed by the Minister that the Minister thinks fit.

          1. The Minister may only impose those conditions on issue of the licence or by varying the conditions under section 322.

          2. The licensed market operator must comply with the conditions of the licence.