Financial Markets Conduct Act 2013

Climate-related disclosures for certain FMC reporting entities with higher level of public accountability - Preparation of climate statements - Miscellaneous

461ZF: Failure to comply with authoritative notice does not give rise to pecuniary penalty

You could also call this:

"Breaking a rule in a climate statement doesn't mean you'll get a fine."

Illustration for Financial Markets Conduct Act 2013

If you do not follow the rules in a climate statement, it might not meet the requirements of the climate-related disclosure framework. This can happen if you do not comply with an authoritative notice. You will not get a pecuniary penalty order under section 489 for not following the authoritative notice.

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This page was last updated on 15 July 2025

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS775352.

Topics:

Money and consumer rights > Banking and loansBusiness > Industry rulesBusiness > Fair tradingEnvironment and resources > Climate and energy

461ZE: Climate statements may be combined in single document, or

"You can put all your climate statements together in one document."

461ZG: Offence to knowingly fail to comply with climate standards, or

"Breaking the law by not following climate rules can get you in big trouble"

Part 7AClimate-related disclosures for certain FMC reporting entities with higher level of public accountability
Preparation of climate statements: Miscellaneous

461ZFFailure to comply with authoritative notice does not give rise to pecuniary penalty

This section applies if climate statements or group climate statements referred to in this subpart fail to comply with the climate-related disclosure framework as a result of a failure to comply with an authoritative notice.
A pecuniary penalty order may not be made under section 489 in relation to the failure to comply with the authoritative notice.

Compare

s 461C

Notes

Section 461ZF: inserted, on 27 October 2022, by section 8 of the Financial Sector (Climate-related Disclosures and Other Matters) Amendment Act 2021 (2021 No 39).