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Financial Markets Conduct Act 2013

Disclosure of offers of financial products - Application

46: Offers of financial products involving customised terms

You could also call this:

"Investing with special conditions just for you"

Illustration for Financial Markets Conduct Act 2013

When you invest in a financial product, you might get terms that are just for you. This does not mean you are not part of a bigger group of investors who are all investing in the same type of product. You are still part of the same regulated offer as the other investors.

The information you get about the product, like the Product Disclosure Statement and the register entry, does not have to tell you about the customised terms that apply just to you. It just has to give you general information about the product. The rules can say what information the Product Disclosure Statement and register entry must include about the kinds of terms that can be customised for each investor.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4702186.

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45: Treatment of offers of renewals and variations, or

"Rules for when someone offers to renew or change a financial product you have"

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47: Territorial scope of Part, or

"When financial products are offered in New Zealand, this part of the law applies, no matter where they come from."

Part 3Disclosure of offers of financial products
Application

46Offers of financial products involving customised terms

  1. Offers of a type of financial product to 2 or more investors are not prevented from being part of the same regulated offer merely because the product involves terms that are customised for each investor.

  2. The PDS and register entry for a regulated offer are not required to include specific information about any customised terms that apply to a particular investor.

  3. Subsection (2) does not prevent the regulations from requiring a PDS or register entry to contain information about the kinds of terms that may be customised for each investor.