Financial Markets Conduct Act 2013

Enforcement, liability, and appeals - Appeals

532: Appeals against other decisions of FMA on questions of law only

You could also call this:

"Appealing to court if you think the FMA made a wrong law decision"

Illustration for Financial Markets Conduct Act 2013

If you think the Financial Markets Authority (FMA) has made a wrong decision in law, you can appeal to the court. You can appeal against decisions like refusing to give a certificate or directing someone to change a registration. The FMA makes decisions under sections like section 126(2)(e)(iii), section 134, section 193(1)(a), section 195, section 205, section 361, section 448C, section 448D, section 448G, or subpart 1 of the Financial Markets Conduct Act. You can only appeal on a question of law, which means you think the FMA interpreted the law incorrectly.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091790.


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Part 8Enforcement, liability, and appeals
Appeals

532Appeals against other decisions of FMA on questions of law only

  1. An aggrieved person that considers that any of the following decisions of the FMA is wrong in law may appeal to the court against the decision on a question of law only:

  2. a refusal to give a certificate under section 126(2)(e)(iii) (certificate that the FMA is satisfied that a scheme complies with certain requirements):
    1. a decision under section 134 (direction to change a registration):
      1. a decision under section 193(1)(a) (removal of a supervisor of a registered scheme):
        1. a decision under section 195 (cancellation of the registration of a scheme):
          1. a decision under section 205 (direction to the supervisor or issuer):
            1. a decision under section 361 (direction to a licensed market operator):
              1. a decision under section 448C, 448D, or 448G (directions to a contributor or an administrator of a financial benchmark):
                1. a decision under subpart 1 (FMA's enforcement powers).
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                  Notes
                  • Section 532(fa): inserted, on , by section 47 of the Financial Markets (Derivatives Margin and Benchmarking) Reform Amendment Act 2019 (2019 No 46).