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Financial Markets Conduct Act 2013

Enforcement, liability, and appeals - Civil liability - Declarations of contravention and pecuniary penalty orders

493: Court must order that recovery from pecuniary penalty be applied to FMA's actual costs

You could also call this:

"Court must use penalty money to pay Financial Markets Authority's court costs first"

Illustration for Financial Markets Conduct Act 2013

If a court decides someone must pay a pecuniary penalty, it must also decide that the penalty will first be used to pay the Financial Markets Authority's actual costs. You need to know that the Financial Markets Authority's costs are for bringing the case to court. The court's decision will make sure the Authority's costs are paid from the penalty before anything else.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM5155278.

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492: Considerations for court in determining pecuniary penalty, or

"How the court decides a fair fine"

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Part 8Enforcement, liability, and appeals
Civil liability: Declarations of contravention and pecuniary penalty orders

493Court must order that recovery from pecuniary penalty be applied to FMA's actual costs

  1. If the court orders that a person pay a pecuniary penalty, the court must also order that the penalty must be applied first to pay the FMA's actual costs in bringing the proceedings.

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