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Financial Markets Conduct Act 2013

Dealing in financial products on markets - Licensing of markets for trading financial products - Changes to licences

325: Effect of suspension

You could also call this:

"What happens when your financial licence is suspended"

Illustration for Financial Markets Conduct Act 2013

If your financial product market licence is suspended, you are not considered to hold that licence while it is suspended. The Minister can decide that this rule does not apply for certain purposes and will say so in a written notice to you. You will know if this is the case because the Minister will specify it in the notice.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091478.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rules
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324: Procedure for varying of conditions or suspension or cancellation of licence, or

"How the Minister can change, suspend or cancel your licence"

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326: Variation or revocation of suspension, or

"The Minister can change or cancel a stopped licence at any time."

Part 5Dealing in financial products on markets
Licensing of markets for trading financial products: Changes to licences

325Effect of suspension

  1. A person whose financial product market licence is suspended is taken not to hold that licence while it is suspended.

  2. However, the Minister may specify in the written notice to the licensed market operator that subsection (1) does not apply for specified purposes.