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Financial Markets Conduct Act 2013

Dealing in financial products on markets - Transfer of transferable financial products

371: Financial products to which this subpart applies

You could also call this:

"What kinds of money products this law applies to"

Illustration for Financial Markets Conduct Act 2013

This subpart of the law applies to financial products if you can transfer them to someone else and the names of the people who own them are written in a register in New Zealand. You can think of a register like a big book that keeps track of who owns what. The register is kept under the Financial Markets Conduct Act 2013 or another system in New Zealand.

This subpart does not apply to some types of financial products, such as interests in a superannuation scheme or KiwiSaver scheme, derivatives, or certain other financial products that are specified. You might not know what derivatives are, but they are a type of financial product that can be complex. The law does not apply to these products in this subpart.

In this part of the law, a specified financial product is one that this subpart applies to, which means it is a financial product that can be transferred and is registered in New Zealand.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091536.

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370: Offence for failing to comply with direction, or

"Breaking the law by not following a direction from authorities can result in a big fine."

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372: Transfer of specified financial products by products transfer, or

"Transferring certain financial products in a special way using a correct form and signature"

Part 5Dealing in financial products on markets
Transfer of transferable financial products

371Financial products to which this subpart applies

  1. This subpart applies to financial products if—

  2. the financial products are transferable; and
    1. the names of the holders of the products are entered in a register kept under this Act or otherwise kept in New Zealand.

      1. However, this subpart does not apply to—

      2. interests in a superannuation scheme or KiwiSaver scheme:
        1. derivatives:
          1. financial products of a prescribed kind.

            1. In this subpart, specified financial product means a financial product to which this subpart applies.