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Financial Markets Conduct Act 2013

Governance of financial products - Governance of debt securities - Meetings of product holders

121: Supervisor's attendance at meetings of product holders and power to appoint chair

You could also call this:

"Supervisor's role at meetings with people who own debt securities"

Illustration for Financial Markets Conduct Act 2013

When you issue a debt security, you must make sure the supervisor can attend meetings with the people who hold the debt security. You must also give the supervisor the same notices and information that you give to the holders of the debt security. The supervisor has the right to speak at these meetings about things that affect their job or the people they are working for. The supervisor can even choose who will be in charge of the meeting. You can find more information about this by looking at the link to legislation.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4702200.

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120: Meetings of product holders, or

"Rules for meetings of people who own debt securities"

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Part 4Governance of financial products
Governance of debt securities: Meetings of product holders

121Supervisor's attendance at meetings of product holders and power to appoint chair

  1. The issuer of a debt security must ensure that the supervisor—

  2. is permitted to attend any meeting of holders of the debt security; and
    1. receives the notices and communications that any holder of the debt security is entitled to receive in relation to a meeting of those holders; and
      1. may be heard at any meeting of holders of the debt security on any part of the business of the meeting that concerns the supervisor's functions or the holders for whom the supervisor is acting; and
        1. may appoint the chairperson of any meeting of holders of the debt security.

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