Plain language law

New Zealand law explained for everyone

Financial Markets Conduct Act 2013

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

401: FMA must send licence details to Registrar

You could also call this:

"The Financial Markets Authority must tell the Registrar about new licences."

Illustration for Financial Markets Conduct Act 2013

When a company gets a licence, the Financial Markets Authority (FMA) must send some details to the Registrar. The FMA sends the Registrar the company's name and what the licence allows them to do. The FMA also sends the conditions of the licence, which are the rules the company must follow.

The FMA tells the Registrar if there are any other organisations involved and if there is any other important information. You can think of the Registrar like a record keeper, who stores all the important information about the licence. The FMA can also make some of this information public if they want to.

The FMA decides what information to make public and what to keep private. They might share details about the licence with others, but they must always send the important details to the Registrar. This helps keep track of all the licences and the companies that have them.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

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=DLM4091580.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rulesBusiness > Fair trading
Previous

400: Licence may cover authorised bodies, or

"A licence can cover you and other related companies or groups you control."

Next

402: Conditions of licence, or

"Rules you must follow when you have a licence to provide market services"

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

401FMA must send licence details to Registrar

  1. The FMA must send the details specified in subsection (2) to the Registrar.

  2. The details, for each licence, are—

  3. the name of the licensee; and
    1. the market services or class of market services covered by the licence; and
      1. the conditions of the licence imposed by the FMA (including whether an associated custodian is permitted for the purposes of a discretionary investment management service); and
        1. the authorised bodies (if any); and
          1. any other prescribed information.

            1. The FMA may publicly notify any details about a licence as it thinks fit.