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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

320: Licence may cover more than 1 financial product market

You could also call this:

"One licence can cover many financial markets at the same time."

Illustration for Financial Markets Conduct Act 2013

When you get a licence for a financial product market, it can cover more than one market. You can have one licence that covers two or more financial product markets. This means the rules apply to each market separately.

If you want to add another market to your licence, the decision is made in the same way as when you first got your licence. You can also make changes to your licence for just one of the markets, without affecting the others. This can include suspending or cancelling your licence for one market, while still keeping it for the other markets.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091470.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rules
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319: Procedural requirements, or

"Rules the Minister must follow when deciding about your licence application"

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Part 5Dealing in financial products on markets
Licensing of markets for trading financial products: Issue of licence

320Licence may cover more than 1 financial product market

  1. The same financial product market licence may cover 2 or more financial product markets.

  2. In that case,—

  3. a reference in this Act to the financial product market to which a licence covers is taken instead to be a reference to each of those financial product markets severally; and
    1. the decision to add another financial product market to a licence must be made on the same basis as a decision to issue a licence; and
      1. a financial product market licence may be varied, suspended, or cancelled in respect of 1 of those markets only, as if each of those markets were separately licensed.