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Financial Markets Conduct Act 2013

Climate-related disclosures for certain FMC reporting entities with higher level of public accountability - CRD records

461Y: Inspection of CRD records

You could also call this:

"Letting authorised people check your climate reporting records"

Illustration for Financial Markets Conduct Act 2013

If you are a climate reporting entity, you must make your CRD records available for inspection at any reasonable time without charge. You must do this for your directors, any supervisor if you issue debt securities or manage a registered scheme, the FMA, and any other person allowed by law to inspect your records. You must make your records available in the prescribed manner.

If you do not make your CRD records available for inspection, you can commit an offence and be fined up to $50,000. The FMA is one of the groups that can inspect your records.

You can find more information about this type of offence in subpart 5 of Part 8.

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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=LMS775176.

Topics:
Business > Industry rulesEnvironment and resources > Climate and energy
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461X: Period for which CRD records to be kept, or

"Keep climate records for at least 7 years after they are made."

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461Z: Climate statements must be prepared, or

"Big companies must write a report about how they affect the climate."

Part 7AClimate-related disclosures for certain FMC reporting entities with higher level of public accountability
CRD records

461YInspection of CRD records

  1. Every climate reporting entity must make the CRD records available, in the prescribed manner at all reasonable times for inspection without charge, to—

  2. the directors of the climate reporting entity; and
    1. any supervisor (if the climate reporting entity is an issuer of debt securities or the manager of a registered scheme); and
      1. the FMA; and
        1. any other persons authorised or permitted by an enactment to inspect the CRD records of the climate reporting entity or scheme.

          1. A climate reporting entity that contravenes this section commits an offence and is liable on conviction to a fine not exceeding $50,000.

          2. The offence in this section is an infringement offence (see subpart 5 of Part 8).

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