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Fair Trading Act 1986

Miscellaneous provisions

48S: Certain conduct under Financial Markets Conduct Act 2013 does not contravene various provisions of this Act

You could also call this:

“Some actions allowed by financial market rules don't break fair trading rules”

If you do something that breaks certain rules in the Financial Markets Conduct Act 2013, you won’t be breaking some other rules in the Fair Trading Act. These other rules are in sections 9 to 13 of the Fair Trading Act.

Even if you have a good reason for breaking those Financial Markets Conduct Act rules, it still counts as breaking them for this purpose. This is true even if you wouldn’t get in trouble for it because you have a good excuse.

The specific rules in the Financial Markets Conduct Act that this applies to are sections 82, 99, 262, 265, 427, and clause 27 of Schedule 1. If you break any of these rules, you won’t be breaking sections 9 to 13 of the Fair Trading Act at the same time.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6033261.

Topics:
Business > Fair trading
Business > Industry rules
Money and consumer rights > Consumer protection
Money and consumer rights > Banking and loans
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Part 6 Miscellaneous provisions

48SCertain conduct under Financial Markets Conduct Act 2013 does not contravene various provisions of this Act

  1. Conduct that contravenes section 82, 99, 262, 265, or 427 or clause 27 of Schedule 1 of the Financial Markets Conduct Act 2013 does not contravene any of sections 9 to 13 of this Act.

  2. For the purpose of this section, conduct must be treated as contravening section 82, 99, 262, 265, or 427 or clause 27 of Schedule 1 of the Financial Markets Conduct Act 2013 even if the conduct does not constitute an offence, or does not lead to any liability, because of the availability of a defence.

Notes
  • Section 48S: inserted, on , by section 8 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70).