468When FMA may make direction orders

1. The FMA may make a direction order if it is satisfied that, by engaging in any conduct, a person (the relevant person) has contravened, or is likely to contravene,—

2. a Part 2 fair dealing provision:
3. a Part 3 offer provision:
4. a Part 4 governance provision:
5. a Part 5 market provision:
6. a Part 6 services provision:
7. a Part 7 financial reporting provision:
8. a Part 7A climate-related disclosure provision:
9. an infringement offence provision:
10. an obligation under Schedule 3 or under a trust deed for a Schedule 3 scheme:
11. clause 21, 22(1)(b) or (c), 25, or 39 of Schedule 4 (transitional requirements):
12. a term or condition of an exemption granted under subpart 2 of Part 9 or an exemption from a licensing requirement under section 546(1)(c) to (cc).

13. If the FMA is satisfied that, by engaging in any conduct, the relevant person is likely to contravene a provision referred to in subsection (1) in the future, the FMA may make a direction order—

14. whether or not the relevant person has previously contravened the provision; and
15. whether or not there is an imminent danger of substantial damage to any person if the provision is contravened.

16. In this section, an infringement offence provision is a provision in respect of which a contravention is an infringement offence.