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Fair Trading Act 1986

Consumer transactions and auctions - Uninvited direct sales

36S: Regulations

You could also call this:

"Rules Made by the Government to Help with Buying and Selling"

Illustration for Fair Trading Act 1986

The Governor-General can make rules for consumer transactions and auctions. You need to know that these rules can exempt some agreements from certain provisions. The Minister must recommend these rules and consult with people who will be affected. The Minister has to be careful when making recommendations. You should understand that the Minister must consider comments from people who will be affected. The Minister also has to make sure the exemption is not too broad. If the Minister does not follow the rules, it does not affect the validity of the Order in Council. You can find more information about agreements for the issue or sale of a financial product in section 34(2) of the Financial Markets Conduct Act 2013. Regulations under this section are secondary legislation, which means they have to be published, as explained in Part 3 of the Legislation Act 2019.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6156647.

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Part 4AConsumer transactions and auctions
Uninvited direct sales

36SRegulations

  1. The Governor-General may, by Order in Council made on the recommendation of the Minister in accordance with subsection (2), make regulations for the following purposes:

  2. exempting classes of agreement for the issue or sale of a financial product from 1 or more provisions of this subpart:
    1. prescribing terms and conditions to which an exemption described in paragraph (a) is subject.

      1. The Minister must not make a recommendation under this section unless—

      2. the Minister is satisfied that the exemption is not broader than is reasonably necessary to address the matters that gave rise to the regulations; and
        1. the Minister has consulted the persons or representatives of the persons that the Minister considers will be substantially affected by any Order in Council made in accordance with the recommendation, and those persons have had the opportunity to comment to the Minister; and
          1. the Minister has considered those comments.

            1. A failure to comply with subsection (2) does not affect the validity of any Order in Council made under this section.

            2. In this section, agreement for the issue or sale of a financial product means an agreement, resulting from an offer described in section 34(2) of the Financial Markets Conduct Act 2013, for the issue or sale of a financial product (within the meaning of that section).

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

            Notes
            • Section 36S: inserted, on , by section 23 of the Fair Trading Amendment Act 2013 (2013 No 143).
            • Section 36S(5): inserted, on , by section 3 of the Secondary Legislation Act 2021 (2021 No 7).