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Financial Markets Conduct Act 2013

Enforcement, liability, and appeals - Civil liability - Interrelationship of civil liability orders

505: More than 1 civil liability order may be made for same conduct

You could also call this:

"The court can give you more than one penalty for doing the same wrong thing."

Illustration for Financial Markets Conduct Act 2013

If you do something wrong, the court can make more than one order against you for the same action. The court can make different types of orders, even if they are for the same thing you did. You can be given a compensatory order and a pecuniary penalty order for the same conduct.

The court can also make an order that takes away your financial products and says you cannot use the voting rights that come with those products. This is another type of civil liability order the court can make for the same action. You can learn more about similar laws by looking at the Securities Amendment Act 1988.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091730.

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"Tell the court who else was involved, in writing, before the trial starts"

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506: Only 1 pecuniary penalty may be imposed for same conduct, or

"You only pay one penalty for doing something wrong, even if you break multiple rules."

Part 8Enforcement, liability, and appeals
Civil liability: Interrelationship of civil liability orders

505More than 1 civil liability order may be made for same conduct

  1. The court may make a civil liability order of one kind against a person even though the court has made another civil liability order of a different kind against the person for the same conduct.

    Examples

    The court may make a compensatory order and a pecuniary penalty order for the same conduct.

    The court may make a civil liability order requiring forfeiture of financial products and declaring a previous exercise of voting rights attaching to those products to be void.

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