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Financial Markets Conduct Act 2013

Regulations, transitional provisions, and miscellaneous provisions - Recognition and application regimes - Extension of Act and regulations to overseas offers under application regime

580: Extension of Act and regulations to overseas offers under application regime

You could also call this:

"The law applies to financial products sold overseas if certain rules are met."

Illustration for Financial Markets Conduct Act 2013

The law applies to financial products offered to people outside New Zealand if certain conditions are met. You need to check if an application regime set out in regulations made under section 581 applies to the financial product. If it does, and the regime says the law applies to that product, and all other conditions are met, then the law applies to that financial product.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091853.

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579: Offence for breach of regulations implementing recognition regime, or

"Breaking rules about financial products can lead to a fine of up to $50,000."

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581: Power to extend Act and regulations under application regime, or

"The government can apply New Zealand laws to financial products sold in other countries."

Part 9Regulations, transitional provisions, and miscellaneous provisions
Recognition and application regimes: Extension of Act and regulations to overseas offers under application regime

580Extension of Act and regulations to overseas offers under application regime

  1. A provision of this Act or the regulations applies to a financial product that is offered to a person outside New Zealand if—

  2. an application regime set out in regulations made under section 581 applies to the financial product; and
    1. the application regime applies that provision to the financial product; and
      1. any other preconditions of the application regime are met.

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