Plain language law

New Zealand law explained for everyone

Financial Markets Conduct Act 2013

Enforcement, liability, and appeals - High Court's enforcement powers - Injunctions

482: Undertaking as to damages not required by FMA

You could also call this:

"The court doesn't make the FMA promise to pay damages when asking for a temporary stop order."

Illustration for Financial Markets Conduct Act 2013

If you are the FMA and you ask the court for an interim injunction, the court cannot make you promise to pay damages as a condition of getting the injunction. The court will decide if you get the injunction based on your application, without thinking about the fact that you do not have to promise to pay damages. When the court is making its decision, it must not consider that you are not required to give an undertaking as to damages, which is a promise to pay damages, you can find similar information in the s 42M legislation.

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 It might be out of date or be missing some parts.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=DLM4091697.

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

481: When court may grant injunctions and interim injunctions, or

"The court can stop someone from doing something to keep things fair and prevent problems."

Next

483: Court may make FMA orders under this Part, or

"The court can make decisions on behalf of the Financial Markets Authority."

Part 8Enforcement, liability, and appeals
High Court's enforcement powers: Injunctions

482Undertaking as to damages not required by FMA

  1. If the FMA applies to the court for the grant of an interim injunction under this subpart, the court must not, as a condition of granting an interim injunction, require the FMA to give an undertaking as to damages.

  2. In determining the FMA's application for the grant of an interim injunction, the court must not take into account that the FMA is not required to give an undertaking as to damages.

Compare