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Financial Markets Conduct Act 2013

Enforcement, liability, and appeals - FMA's enforcement powers - Stop orders

466: Persons to whom stop orders and interim stop orders may apply

You could also call this:

"Who has to follow stop orders and interim stop orders"

Illustration for Financial Markets Conduct Act 2013

A stop order or an interim stop order can apply to you if you are a person specified in the order, such as an issuer, an offeror, or a service provider, as referred to in section 463(a), (b), (d), or (e). This means you might have to follow the rules in the order. You can be required to follow the order if you are one of these people or if you work with them.

If the order is made under section 463(c), it can apply to you if you are an issuer, an offeror, a service provider, or someone associated with them. The order can also apply to people who work with these organisations, even if they are set up after the order is made.

The order might require you to follow the rules, or it might require the organisation you work with to give you a copy of the order. The order does not have to mention you by name to apply to you, as stated in the rules related to section 463(c).

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091676.

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Part 8Enforcement, liability, and appeals
FMA's enforcement powers: Stop orders

466Persons to whom stop orders and interim stop orders may apply

  1. A stop order or an interim stop order of the kind referred to in—

  2. section 463(a), (b), (d), or (e) may apply to any person specified in the order (for example, an issuer, an offeror, or a service provider):
    1. section 463(c) may apply to 1 or more of an issuer, an offeror, a service provider, or any associated persons of an issuer, an offeror, or a service provider.

      1. If a stop order or an interim stop order of the kind referred to in section 463(c) extends to associated persons of the issuer, offeror, or service provider, the order may require—

      2. all, or any specified class or classes, of the associated persons to comply with the order (including associated persons that may be incorporated or formed after the date of the order); and
        1. the issuer, offeror, or service provider to provide a copy of the order to all or any of those associated persons.

          1. For the purpose of subsection (2), the order is not required to refer to the associated persons by name.