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Financial Markets Conduct Act 2013

Licensing and other regulation of market services - Issue of licences, conditions, and duration - Issue of licences

395: Application for licence

You could also call this:

"How to apply for a licence to provide market services in the way the Financial Markets Authority says"

Illustration for Financial Markets Conduct Act 2013

If you want to apply for a licence, you must do it in the way that the Financial Markets Authority (FMA) says. The FMA can decide what information you need to give them when you apply, and they can also say how you must apply. They can even refuse to look at your application if you do not follow their rules.

You can apply for a licence to provide one or more market services, and the FMA might divide these services into different classes that are listed on their website. When you apply, you must give the FMA all the information they need to decide on your application.

The FMA can specify different rules for different types of applicants, and they can also set time frames for when you must apply, which can vary depending on the type of applicant you are or the circumstances of your application.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091573.

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Part 6Licensing and other regulation of market services
Issue of licences, conditions, and duration: Issue of licences

395Application for licence

  1. A person may apply for a licence in the manner that is specified by the FMA.

  2. The FMA may—

  3. specify any of the matters referred to in section 548(1)(p)(i) to (iv); and
    1. specify different matters for different classes of applicant or other circumstances (including specifying time frames within which different classes of applicant must make an application for a licence); and
      1. refuse to consider the application if the person does not apply for the licence in the specified manner.

          1. Example

          In order to facilitate the orderly and efficient processing of applications, the FMA specifies that if a particular type of provider wants a licence by a particular date or for a particular purpose, the provider must apply by some other date. A different date may apply to different classes of provider.

        1. The application may be for a licence to cover 1 or more market services (or 1 or more classes of services, if the FMA specifies, on its Internet site, classes into which a market service is divided).

        2. An applicant must provide to the FMA the information that is required by the FMA to assist it in determining the application.

        Notes
        • Section 395(1A): inserted, on , by section 20 of the Financial Services Legislation Amendment Act 2019 (2019 No 8).