Conditions of licence

402 Conditions of licence

(1)

The licence is subject to—

(a)

a condition that the licensee or authorised body may, under the licence, provide only the market services or class of market services to which the licence relates and for which each person is authorised under the licence; and

(b)

the conditions imposed by the FMA under section 403; and

(c)

the conditions imposed by regulations (if any).

(2)

The condition in subsection (1)(a) is subject to the limits and restrictions imposed under section 403(3)(a).

(3)

The licensee and every authorised body must comply with the conditions imposed on the licensee’s licence.