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Financial Markets Conduct Act 2013

Governance of financial products - Governance of managed investment products - Meetings of scheme participants

162: Supervisor's attendance at meetings of scheme participants and power to appoint chair

You could also call this:

"Supervisor's role at scheme meetings: attending, speaking, and choosing a leader"

Illustration for Financial Markets Conduct Act 2013

The manager of a registered scheme must make sure the supervisor can attend meetings of scheme participants. You need to know the supervisor has the right to receive notices and communications about these meetings. The supervisor can also talk at meetings about things that affect their job or the scheme participants they are working for, and they can choose who will lead the meeting.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4702202.

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Part 4Governance of financial products
Governance of managed investment products: Meetings of scheme participants

162Supervisor's attendance at meetings of scheme participants and power to appoint chair

  1. The manager of a registered scheme must ensure that the supervisor—

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

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