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Financial Markets Conduct Act 2013

Financial reporting - Preparation, audit, and lodgement of financial statements - Preparation of financial statements

461A: Financial statements for registered schemes and funds

You could also call this:

"Managers of registered schemes must prepare yearly financial reports within four months."

Illustration for Financial Markets Conduct Act 2013

If you are a manager of a registered scheme, this law applies to you. You must prepare financial statements for the scheme within four months of its balance date. These statements must follow generally accepted accounting practice and be signed by two of your directors.

If your scheme's liabilities are not limited to a separate fund, you only need to prepare financial statements for the scheme. But if the liabilities are limited to a separate fund, you must prepare statements for both the scheme and the separate fund.

You can find more information about what you need to do in sections 460 and 461, but some managers do not have to follow these rules. This law does not apply to new schemes that have not issued any interests and have no liabilities at the balance date.

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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=DLM6027067.

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Part 7Financial reporting
Preparation, audit, and lodgement of financial statements: Preparation of financial statements

461AFinancial statements for registered schemes and funds

  1. This section applies to every manager of a registered scheme.

  2. If the liabilities of the manager and the scheme are not limited to a particular group of assets (a separate fund), the manager must ensure that, within 4 months after the balance date of the scheme, financial statements that comply with generally accepted accounting practice are—

  3. completed in relation to the scheme and that balance date; and
    1. dated and signed on behalf of the manager by 2 directors of the manager or, if the manager has only 1 director, by that director.

      1. If the liabilities of the manager or the scheme are limited to a separate fund, the manager must ensure that, within 4 months after the balance date of the scheme, financial statements that comply with generally accepted accounting practice are—

      2. completed in relation to the scheme and that balance date; and
        1. completed in relation to the separate fund and that balance date; and
          1. dated and signed on behalf of the manager by 2 directors of the manager or, if the manager has only 1 director, by that director.

            1. If the manager is an FMC reporting entity by reason only of being a manager of a restricted scheme, the manager—

            2. is required to comply with this section; but
              1. is not required to comply with sections 460 and 461.

                1. This section does not apply in relation to a registered scheme and an accounting period if—

                2. the scheme was established during the accounting period; and
                  1. no interests in the scheme were issued during the accounting period; and
                    1. as at the balance date of the scheme, there are no liabilities in respect of the scheme.

                      Compare
                      Notes
                      • Section 461A: inserted, on , by section 48 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).
                      • Section 461A(2): amended, on , by section 80 of the Regulatory Systems (Commercial Matters) Amendment Act 2017 (2017 No 12).
                      • Section 461A(3): amended, on , by section 80 of the Regulatory Systems (Commercial Matters) Amendment Act 2017 (2017 No 12).
                      • Section 461A(5): inserted, on , by section 99 of the Regulatory Systems (Economic Development) Amendment Act 2025 (2025 No 11).