The FMA can change a direction they have made under section 361 in the same way they made it. You can think of the FMA as a group that helps keep an eye on financial markets in New Zealand. When the FMA makes a direction, it is like giving instructions to someone who runs a market where people buy and sell financial products.
The FMA can also cancel a direction they have made under section 361 by sending a written notice to the person who runs the market. This written notice is like a formal letter that tells the market operator what is happening. The FMA sends this notice to let the market operator know that the direction is no longer in place.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091532.
367: Effect of directions to licensed market operator, or
"What to do when a licensed market operator gets a direction from the Financial Markets Authority"
369: Contracting out of or modification of continuous disclosure process requirements, or
"Changing some rules for companies on the market"
The FMA may vary a direction under section 361 in the same way as it may make that direction.
The FMA may revoke a direction under section 361 by giving written notice to the licensed market operator.
