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Financial Markets Conduct Act 2013

Licensing and other regulation of market services - Monitoring and enforcement of licences - Reports

413: Restriction on use of report

You could also call this:

"You can't use a report against the person who gave it to you in most criminal cases."

Illustration for Financial Markets Conduct Act 2013

If you get a report from a licensee under section 412, you cannot use it as evidence against them in a criminal case, unless the case is about whether the report is false. You can only use the report in a case that questions if the information in the report is true or not. The report is protected, so it cannot be used against the licensee in other criminal cases.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM5155263.

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412: Licensee must report certain matters, or

"People with a licence must tell the authorities if something goes wrong or a big change happens"

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414: FMA's powers in case of contravention of market services licensee obligation, material change, etc, or

"What happens if you break a market rule or something important changes"

Part 6Licensing and other regulation of market services
Monitoring and enforcement of licences: Reports

413Restriction on use of report

  1. A report provided by a licensee under section 412 is not admissible as evidence in a criminal proceeding against the licensee, except in a criminal proceeding that concerns the falsity of the report.