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Financial Markets Conduct Act 2013

Governance of financial products - Governance of managed investment products - Related party transactions

175: Requirements for certificates as to related party benefits

You could also call this:

"What to include in a certificate about benefits to related parties"

Illustration for Financial Markets Conduct Act 2013

When you give a certificate under section 173, it only works if it says why it is given and what it is based on. You must also follow any rules about what the certificate should look like, what it should say, and how it is given. You can find these rules in section 173 and section 174, which you can read by following the links to section 173 and section 174. If you already have a certificate that applies to the transaction, you do not need a new one, as long as the existing certificate covers what you need, even if it is general.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4702203.

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174: Certain related party benefits permitted, or

"Some benefits can be given to family or friends if the deal is fair and follows the rules"

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176: Additional restrictions on acquisitions by restricted schemes of in-house assets, or

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Part 4Governance of financial products
Governance of managed investment products: Related party transactions

175Requirements for certificates as to related party benefits

  1. A certificate under section 173 is effective only if the certificate—

  2. states the specific grounds on which it is given under section 173 and (if relevant) section 174, and the basis for relying on those grounds; and
    1. complies with the prescribed requirements (if any) as to its form, content, or the manner in which it is given.

      1. Nothing in section 173 requires a new certificate if there is an existing certificate that applies (whether specifically or in general terms) to the transaction or transactions.