403 When FMA may impose permitted conditions

(1)

The FMA may, by written notice to the applicant or licensee,—

(a)

impose conditions on a licence when the licence is issued; and

(b)

vary, revoke, add to, or substitute any conditions of licence imposed under this section at any time after the licence is issued.

(2)

A condition referred to in subsection (1) may only be of a prescribed kind or relate to a prescribed matter (except as set out in subsection (3)).

(3)

A condition referred to in subsection (1) may—

(a)

impose limits or restrictions on the services that are covered by the licence (for example, by reference to particular financial products, issuers, or investors, or classes of financial products, issuers, or investors, or by reference to any other matters):

(b)

impose conditions relating to the requirements referred to in section 396 or 400 (for example, to ensure that those requirements continue to be satisfied and to require verification that those requirements continue to be satisfied):

(c)

specify the date of expiry of the licence (the expiry date).