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Financial Markets Conduct Act 2013

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

402: Conditions of licence

You could also call this:

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

Illustration for Financial Markets Conduct Act 2013

When you have a licence, there are rules you must follow. Your licence only lets you provide certain market services, and only the services you are authorised to provide. You must also follow the conditions set by the FMA under section 403, and any conditions set by regulations.

There are limits and restrictions on what you can do under your licence, as set out in section 403(3)(a). You must stay within these limits.

You and any authorised body must comply with all the conditions of your licence.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091582.

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401: FMA must send licence details to Registrar, or

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

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403: When FMA may impose permitted conditions, or

"When the Financial Markets Authority can add rules to a licence"

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

402Conditions of licence

  1. The licence is subject to—

  2. a condition that the licensee or authorised body may, under the licence, provide only the market services or class of market services to which the licence relates and for which each person is authorised under the licence; and
    1. the conditions imposed by the FMA under section 403; and
      1. the conditions imposed by regulations (if any).

        1. The condition in subsection (1)(a) is subject to the limits and restrictions imposed under section 403(3)(a).

        2. The licensee and every authorised body must comply with the conditions imposed on the licensee's licence.