New Zealand Legislation: Acts

74 Power to exempt from Part 2 and Regulations under recognition regime

• (1) The Governor-General may, by Order in Council made on the recommendation of the Minister, make regulations, for the purpose of implementing a recognition regime for a designated country, that provide for—

  • (a) exemptions from provisions of Part 2 and the Regulations; and

  • (b) the other matters set out in section 75.

  (2) The Minister may recommend making an Order in Council under this section only—

  • (a) if he or she is satisfied that it is in the public interest after having regard to—

    • (i) the securities laws of the designated country; and

    • (ii) the interests of New Zealand investors; and

  • (b) after consulting with the FMA.

  Section 74: substituted, on 1 December 2002, by section 26 of the Securities Amendment Act 2002 (2002 No 43).

  Section 74(2)(b): amended, on 1 May 2011, by section 84(3) of the Financial Markets Authority Act 2011 (2011 No 5).