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Financial Markets Conduct Act 2013

Regulations, transitional provisions, and miscellaneous provisions - Exemptions

561A: Financial reporting and climate-related disclosure exemptions

You could also call this:

"Rules for when you don't have to report finances or climate information"

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If you get an exemption under this law, it might apply to a time before the exemption was granted. This can happen if the exemption is granted before you have to lodge your financial statements or climate statements under Part 7 or Part 7A. You might get an exemption for a time that has already ended, as long as you haven't lodged your statements yet. When the FMA decides whether to grant, amend, or revoke an exemption under this law in relation to Part 7 or 7A, they must consult the Reserve Bank if the exemption is about a registered bank, a licensed insurer, or an NBDT. The FMA thinks about these things when making decisions about exemptions.

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Part 9Regulations, transitional provisions, and miscellaneous provisions
Exemptions

561AFinancial reporting and climate-related disclosure exemptions

  1. An exemption granted under this subpart in relation to any provision of Part 7 may, if the FMA thinks fit, apply to an accounting period that commenced before the exemption is granted (including an accounting period that ended before the exemption is granted) if the exemption is granted before the financial statements or group financial statements for that period are required to be lodged under that Part.

  2. An exemption granted under this subpart in relation to any provision of Part 7A may, if the FMA thinks fit, apply to an accounting period that commenced before the exemption is granted (including an accounting period that ended before the exemption is granted) if the exemption is granted before the climate statements or group climate statements for that period are required to be lodged under that Part.

  3. In deciding whether to grant, amend, or revoke an exemption under this subpart in relation to any provision of Part 7 or 7A, the FMA must consult the Reserve Bank if the exemption concerns any of the following:

  4. a registered bank:
    1. a licensed insurer:
      1. an NBDT.

        Notes
        • Section 561A: inserted, on , by section 57 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).
        • Section 561A heading: replaced, on , by section 20(1) of the Financial Sector (Climate-related Disclosures and Other Matters) Amendment Act 2021 (2021 No 39).
        • Section 561A(1A): inserted, on , by section 20(2) of the Financial Sector (Climate-related Disclosures and Other Matters) Amendment Act 2021 (2021 No 39).
        • Section 561A(2): amended, on , by section 20(3) of the Financial Sector (Climate-related Disclosures and Other Matters) Amendment Act 2021 (2021 No 39).