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

581: Power to extend Act and regulations under application regime

You could also call this:

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

Illustration for Financial Markets Conduct Act 2013

The Governor-General can make regulations to apply New Zealand laws to financial products offered to people in another country. You need to know that this is done to implement an application regime for that country. The Minister must recommend this and be satisfied it is appropriate for New Zealand laws to apply.

The Minister can only recommend this if they think it is a good idea for New Zealand laws to apply to financial products in the other country. They must also talk to the FMA before making a recommendation. The FMA is a group that helps regulate financial markets in New Zealand.

Regulations made under this section are a type of law called secondary legislation, which has its own publication requirements, as outlined in Part 3 of the Legislation Act 2019.

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This page was last updated on 15 July 2025

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091854.

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

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

582: Matters that must be stated in regulations implementing application regime, or

"What rules must be included when creating regulations for financial products in certain countries?"

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

581Power to extend Act and regulations under application regime

The Governor-General may, by Order in Council made on the recommendation of the Minister, make regulations, for the purpose of implementing an application regime for a designated country, that provide for—
the application of provisions of this Act and the regulations to financial products offered to persons in that country; and
the other matters set out in section 582.

The Minister may recommend making an Order in Council under this section only—
if he or she is satisfied that it is appropriate for New Zealand laws to apply to financial products offered to persons in the designated country as set out in the proposed application regime; and
after consulting with the FMA.

Regulations under this section are secondary legislation (see Part 3 of the Legislation Act 2019 for publication requirements).

Compare

1978 No 103 s 78

Notes

Section 581(3): inserted, on 28 October 2021, by section 3 of the Secondary Legislation Act 2021 (2021 No 7).