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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

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

You could also call this:

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

Illustration for Financial Markets Conduct Act 2013

When regulations are made under section 581, they must say what country the application regime applies to. They must also say what types of financial products it applies to, and which parts of the Financial Markets Conduct Act and its regulations apply to those products. You need to know if there are any exemptions from those rules that might also apply to those financial products.

The regulations must also state if there are any conditions that must be met before the application regime can apply, and if there are any special rules that must be followed. You can find more information about this in the section 581 regulations.

The regulations can have different rules for different types of financial products, offers, people, or situations, so you should check the specific regulations that apply to your situation.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091855.

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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."

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583: Purpose of this subpart, or

"Helping people follow investment rules and pay fines when they break the law"

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

582Matters that must be stated in regulations implementing application regime

  1. The regulations made under section 581 must state—

  2. the country to which the application regime applies; and
    1. the classes of financial products to which the application regime applies (whether by reference to type of issuer, offeror, offer, or any other matter); and
      1. the provisions of this Act and the regulations that apply to those financial products; and
        1. whether or not, or the extent to which, exemptions from those provisions granted by the FMA under this Act may also apply to those financial products; and
          1. the preconditions (if any) that must be met for the application regime to apply; and
            1. the terms and conditions (if any) that must be complied with under the application regime.

              1. The regulations may provide different applications of provisions, preconditions, and terms and conditions for different classes of financial products, offers, persons, or circumstances.

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