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Financial Markets Conduct Act 2013

Governance of financial products - Governance of debt securities - Role of supervisor

117: Restriction on use of reports on contraventions

You could also call this:

"Reports about wrongdoing can't be used as evidence in most criminal cases"

Illustration for Financial Markets Conduct Act 2013

If you get a report from an issuer under section 116, you cannot use it as evidence in a criminal case against the issuer. This rule does not apply if the criminal case is about whether the report is false. You can use the report as evidence in that type of case.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM5155249.

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116: Issuer must report contravention or possible contravention of issuer obligations, or

"Companies must report if they break or might break rules to the supervisor."

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118: Duty of issuer to report serious financial problems, or

"Tell the supervisor if you might not be able to pay your debts"

Part 4Governance of financial products
Governance of debt securities: Role of supervisor

117Restriction on use of reports on contraventions

  1. A report provided by an issuer under section 116 is not admissible as evidence in a criminal proceeding against the issuer, except in a criminal proceeding that concerns the falsity of the report.