393Principles guiding the exercise of FMA powers

1. In exercising a power under this subpart, the FMA must be guided by the following principles:

2. exercising the power must be necessary or desirable in order to promote 1 or more of the following:
   1. either or both of the main purposes specified in section 3:
   2. any of the additional purposes specified in section 4:
   3. in the case of a market services licence to act as an administrator of a financial benchmark, either or both of the additional purposes specified in section 448B:
   4. in the case of financial advice services, the additional purpose in section 431B; and
3. in exercising the power, the FMA should not unnecessarily restrict the licensing of persons.