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Financial Reporting Act 2013

External Reporting Board, standards, and provisions that apply to other enactments - Monetary amounts adjusted for inflation

49: Order may amend amounts

You could also call this:

"The Governor-General can change some numbers in the law to update them."

Illustration for Financial Reporting Act 2013

The Governor-General can make changes to some amounts in the law by Order in Council. You can find these amounts in sections like section 45(1)(a) and section 45(1)(b). The Governor-General can also change amounts in other laws, such as the Charities Act 2005 and the Companies Act 1993.

The Governor-General can make these changes on the recommendation of the Minister. When the Governor-General makes these changes, they are making secondary legislation, which is explained in Part 3 of the Legislation Act 2019.

You can find more information about the laws that the Governor-General can change, such as the Financial Markets Conduct Act 2013 and the Friendly Societies and Credit Unions Act 1982.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4632967.

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"Minister checks money amounts to keep up with price rises due to inflation."

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50: Regulations, or

"Rules made by the Governor-General to help with financial reporting"

Part 2External Reporting Board, standards, and provisions that apply to other enactments
Monetary amounts adjusted for inflation

49Order may amend amounts

  1. The Governor-General may, by Order in Council, on the recommendation of the Minister, make regulations for all or any of the following purposes:

  2. amending the amount specified in section 45(1)(a):
    1. amending the amount specified in section 45(1)(b):
      1. amending the amounts in the example in section 45(1):
        1. amending the amounts specified in section 42D of the Charities Act 2005:
          1. amending the amount specified in section 45(2)(a):
            1. amending the amount specified in section 45(2)(b):
              1. amending the amount specified in section 46:
                1. amending the amounts specified in section 204(3) of the Companies Act 1993:
                  1. amending the amount in section 64(2) of the Friendly Societies and Credit Unions Act 1982:
                    1. amending the amounts specified in sections 461Q and 461S of the Financial Markets Conduct Act 2013:
                      1. amending the amounts in the example in section 461S of the Financial Markets Conduct Act 2013.

                        1. Regulations under this section are secondary legislation (see Part 3 of the Legislation Act 2019 for publication requirements).

                        Notes
                        • Section 49(1)(ca): inserted, on , by section 12 of the Financial Reporting Amendment Act 2014 (2014 No 64).
                        • Section 49(1)(i): inserted, on , by section 45 of the Financial Sector (Climate-related Disclosures and Other Matters) Amendment Act 2021 (2021 No 39).
                        • Section 49(1)(j): inserted, on , by section 45 of the Financial Sector (Climate-related Disclosures and Other Matters) Amendment Act 2021 (2021 No 39).
                        • Section 49(2): inserted, on , by section 3 of the Secondary Legislation Act 2021 (2021 No 7).