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Financial Markets Conduct Act 2013

Dealing in financial products on markets - Disclosure of interests of substantial product holders in listed issuers - Tracing and disclosure of interests in listed issuers

290: Listed issuer may require registered holder or relevant interest holder to disclose relevant interests to it

You could also call this:

"Companies can ask shareholders to reveal who else has a stake in the company"

Illustration for Financial Markets Conduct Act 2013

If you own shares in a company, the company might ask you to tell them who else has a stake in the company. The company wants to know who has a relevant interest in their shares and what that interest is. You have to give the company this information in writing as soon as you can after they ask for it.

When the company asks, you have to tell them the names and addresses of people who have a relevant interest in their shares. You also have to tell them about the nature of their interest in the shares. If you do not know some of this information, you have to give the company other details that might help them identify the people and their interests.

The company can ask you for this information if you own their shares or if you have told them before that you have a relevant interest in their shares. You can see more about this in the Financial Markets Conduct Act 2013 and it is similar to section 35 of the 1986 Act. The company needs this information to understand who has a stake in their business.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4702220.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rulesBusiness > Fair trading
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289: FMA may require persons to disclose to market relevant interests and powers to acquire relevant interests, or

"The FMA can ask you to tell everyone about your interests in certain financial products."

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291: Listed issuer may require person who has relevant interest to disclose information to it, or

"Companies can ask you for information if you own a big part of their business"

Part 5Dealing in financial products on markets
Disclosure of interests of substantial product holders in listed issuers: Tracing and disclosure of interests in listed issuers

290Listed issuer may require registered holder or relevant interest holder to disclose relevant interests to it

  1. The purpose of this section is to enable a listed issuer to ascertain who has a relevant interest in quoted voting products of the listed issuer and the nature of that interest (regardless of whether those persons are substantial product holders).

  2. A listed issuer may, by written notice, require a relevant person to disclose—

  3. the name and address of every person who has a relevant interest in quoted voting products of the listed issuer and the nature of that interest; and
    1. to the extent that that relevant person is unable to supply any of that information in relation to a person having a relevant interest in those financial products, other particulars that will, or are likely to, assist in identifying that person and the nature of the interest.

      1. The relevant person must disclose the information required under subsection (2) in writing to the listed issuer as soon as practicable after the person receives the notice.

      2. In this section, relevant person, in relation to a listed issuer, means a person who—

      3. is registered as the holder of quoted voting products of the listed issuer; or
        1. was named in a previous disclosure under this section as having a relevant interest in quoted voting products of the listed issuer.

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