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Financial Markets Conduct Act 2013

Governance of financial products - Governance of managed investment products - Custodianship of scheme property

159: Custodian must report on scheme property

You could also call this:

"Custodians must tell others about the scheme property they are looking after."

Illustration for Financial Markets Conduct Act 2013

If you are a custodian for a registered scheme, you must give certain information to the manager or other people when required. You have to provide this information in a specific way. The information you give is about the scheme property you are holding, or transactions related to it, and it must include what is prescribed.

You need to know what confirmation information is, so it means the details about the scheme property or transactions that are required. When you give this information, you are confirming what you have or what has happened. This helps keep track of the scheme property.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM5155254.

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Part 4Governance of financial products
Governance of managed investment products: Custodianship of scheme property

159Custodian must report on scheme property

  1. A custodian for a registered scheme must, in the prescribed circumstances, provide confirmation information to the manager or other prescribed persons in respect of the scheme property held by the custodian.

  2. The confirmation information must be provided in the prescribed manner.

  3. In this section, confirmation information means the information relating to the scheme property, or transactions relating to it, that is prescribed.