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Financial Markets Conduct Act 2013

Climate-related disclosures for certain FMC reporting entities with higher level of public accountability - Overview, application, and interpretation

461O: Meaning of climate reporting entity

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"What kinds of big companies must report on their climate impact?"

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You are considered a climate reporting entity if you are a certain type of company that has a higher level of public accountability. This includes companies like listed issuers, registered banks, licensed insurers, credit unions, and building societies that are large. You can find out what 'large' means by looking at section 461Q. You are also a climate reporting entity if you manage a registered scheme and you are a large manager, and section 461K(1)(b) applies to you. Some words in this law have special meanings, like 'excluded listed issuer', which is explained in section 461P, and 'large manager', which is explained in section 461S.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS775093.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rulesEnvironment and resources > Climate and energy
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461P: Definitions relating to listed issuers, or

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Part 7AClimate-related disclosures for certain FMC reporting entities with higher level of public accountability
Overview, application, and interpretation

461OMeaning of climate reporting entity

  1. In this Act, a person who is an FMC reporting entity that, under section 461K, is considered to have a higher level of public accountability than other FMC reporting entities is a climate reporting entity if that person is 1 or more of the following:

  2. a listed issuer that—
    1. is a large listed issuer; and
      1. is not an excluded listed issuer:
      2. a registered bank that is large:
        1. a licensed insurer that is large:
          1. a credit union that is large:
            1. a building society that is large.

              1. In this Act, a manager of a registered scheme (other than a restricted scheme) is a climate reporting entity in respect of the scheme if—

              2. the manager is a large manager; and
                1. section 461K(1)(b) applies to the manager in respect of the scheme.

                  1. In this section,—

                    excluded listed issuer has the meaning set out in section 461P

                      large, in relation to a registered bank, licensed insurer, credit union, or building society, has the meaning set out in section 461Q

                        large listed issuer has the meaning set out in section 461P

                          large manager has the meaning set out in section 461S.

                          Notes
                          • Section 461O: inserted, on , by section 8 of the Financial Sector (Climate-related Disclosures and Other Matters) Amendment Act 2021 (2021 No 39).