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Financial Markets Conduct Act 2013

Regulations, transitional provisions, and miscellaneous provisions - FMA's designation power

566: Period in which interim order is in force

You could also call this:

"How long a temporary rule, called an interim order, lasts"

Illustration for Financial Markets Conduct Act 2013

An interim order is in force from the time it is made. You can think of an interim order like a temporary rule. It stays in force until the close of a certain date. This date is either 15 working days after the order is made, or a later date that the Financial Markets Authority (FMA) decides. The FMA tells the person or company the order is about by giving them a notice with the later date.

The FMA can choose a later date if they think they need more time to consider the matter. They must choose a date that is no more than 30 working days after the interim order is made. This is so the FMA has enough time to think about the matter, as mentioned in section 565.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091831.

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Part 9Regulations, transitional provisions, and miscellaneous provisions
FMA's designation power

566Period in which interim order is in force

  1. An interim order under section 565 is in force from the time at which it is made until the close of—

  2. the date that is 15 working days after the day on which it is made; or
    1. a later date specified by the FMA by notice to the offeror or service provider to which the order relates.

      1. For the purposes of subsection (1)(b),—

      2. the FMA may specify a later date if the FMA is of the opinion that it is not reasonably practicable for it to complete its consideration as referred to in section 565(1)(a) within the 15-working-day period referred to in subsection (1)(a):
        1. the later date must be a date that is no more than 30 working days after the day on which the interim order is made.