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Financial Markets Conduct Act 2013

Dealing in financial products on markets - Transfer of transferable financial products - Transfer of specified financial products using transfers in prescribed form or containing prescribed information

375: Transfers to be instruments of transfer for purposes of other enactments and instruments

You could also call this:

"Transfers of financial products are treated as official documents under the law."

Illustration for Financial Markets Conduct Act 2013

When you transfer financial products, the law treats the transfer in a certain way. If a transfer follows the rules in section 372, you must treat it as an official document that transfers the financial products listed in it. You do this for any laws, rules, or agreements that deal with transferring financial products.

If a transfer follows the rules in section 373 and is used with a broker's transfer, you must treat them together as an official document that transfers the financial products listed in both. This helps make sure the transfer is done correctly under the law. You use this rule when dealing with laws, rules, or agreements about transferring financial products.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091544.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rules
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374: Products transfer does not need to be witnessed, or

"Transferring some financial products doesn't need a witness to sign."

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376: Approval of electronic transfer system, or

"The Governor-General can approve a computer system that helps buy and sell investments electronically."

Part 5Dealing in financial products on markets
Transfer of transferable financial products: Transfer of specified financial products using transfers in prescribed form or containing prescribed information

375Transfers to be instruments of transfer for purposes of other enactments and instruments

  1. For the purposes of any enactment, rule of law, constitution, deed, or agreement that relates to the transfer of financial products or to instruments of transfer of financial products,—

  2. a products transfer to which section 372 applies must be treated as being an instrument of transfer of the financial products specified in the products transfer:
    1. a products transfer to which section 373 applies and a brokers transfer together must be treated as being an instrument of transfer of the financial products specified in both transfers.

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