New Zealand Legislation: Regulations
Regulations are laws made under Acts
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as at 1 May 2011
(SR 2007/109)
Anand Satyanand, Governor-General
At Wellington this 14th day of May 2007
Present:
The Right Hon Helen Clark presiding in Council
Changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in this reprint.
A general outline of these changes is set out in the notes at the end of this reprint, together with other explanatory material about this reprint.
These regulations are administered by the Ministry of Economic Development.
Pursuant to section 42B of the Financial Reporting Act 1993, His Excellency the Governor-General, acting on the advice and with the consent of the Executive Council, makes the following regulations.
4 Fees payable to Financial Markets Authority for section 4B or 35A applications
5 Charges payable to Financial Markets Authority for section 4B or 35A applications
These regulations are the Financial Reporting (Fees and Forms) Regulations 2007.
These regulations come into force on 18 June 2007.
In these regulations, unless the context otherwise requires,—
Act means the Financial Reporting Act 1993
section 4B or 35A application means an application to the Financial Markets Authority to grant or amend an exemption under section 4B or 35A of the Act.
Regulation 3 section 4B or 35A application: amended, on 1 May 2011, by section 84(2) of the Financial Markets Authority Act 2011 (2011 No 5).
Heading: amended, on 1 May 2011, by section 84(2) of the Financial Markets Authority Act 2011 (2011 No 5).
The Financial Markets Authority may require payment to it of—
(a) a fee of $112.50 for a section 4B or 35A application; and
(b) a fee or fees calculated at the following hourly rates in respect of a section 4B or 35A application:
(i) for work carried out by a member of the Financial Markets Authority, an hourly rate of $225:
(ii) for work carried out by an officer or employee of the Financial Markets Authority who holds a qualification in accountancy, business, commerce, economics, or law, an hourly rate of $163.
Regulation 4 heading: amended, on 1 May 2011, by section 84(2) of the Financial Markets Authority Act 2011 (2011 No 5).
Regulation 4: amended, on 1 May 2011, by section 84(2) of the Financial Markets Authority Act 2011 (2011 No 5).
Regulation 4(b)(i): amended, on 1 May 2011, by section 84(2) of the Financial Markets Authority Act 2011 (2011 No 5).
Regulation 4(b)(ii): amended, on 1 May 2011, by section 84(2) of the Financial Markets Authority Act 2011 (2011 No 5).
The Financial Markets Authority may require payment to it of a charge or charges for the costs incurred by it in—
(a) obtaining expert advice or expert assistance in connection with a section 4B or 35A application; and
(b) the printing and publication in the Statutory Regulations series of a notice under section 4B of the Act or a notice under section 35A of the Act; and
(c) the publication in the Gazette of a notice in respect of a notice under section 4B or 35A of the Act.
Regulation 5: substituted, on 1 May 2011, by section 82 of the Financial Markets Authority Act 2011 (2011 No 5).
The fees and charges under regulations 4 and 5 are payable by the person who makes the relevant application,—
(a) in the case of regulation 4(a), when the application is made; and
(b) in any other case, before the 20th day of the month following the month in which an invoice is rendered by the Financial Markets Authority.
Regulation 6(b): amended, on 1 May 2011, by section 84(2) of the Financial Markets Authority Act 2011 (2011 No 5).
The fees prescribed in regulation 4 are inclusive of goods and services tax.
The forms set out in the Schedule are the forms to be used for the matters under the Act to which those forms relate.
Schedule |
[The declaration in the format set out below must be made on behalf of the directors of the entity by 2 directors of the entity or, if the entity has only 1 director, by that director.]
I, [name of director of entity], of [place, occupation], solemnly and sincerely declare that—
(a) I am a director of [name of entity]; and
(b) the incorporation or registration number of [name of entity] is [incorporation or registration number]; and
(c) [name of entity] was a non-active entity (as defined in section 10A(2) of the Financial Reporting Act 1993) in respect of the accounting period ending on [balance date].
And I make this solemn declaration conscientiously believing the same to be true and by virtue of the Oaths and Declarations Act 1957.
Signature:
Declared at [place] this [date] day of [month, year]
Signature of person authorised to take statutory declaration:
| Infringement notice No: | Date of notice: |
Issued by: [full name of Registrar, Registrar's full title]
Address for correspondence and queries:
Infringement notice served on—
| Full name: | |
| Full address: | |
| Date of birth: | Occupation: |
| Gender: | Telephone number: |
The offence is one against section [specify section] of the Financial Reporting Act 1993.
| Date: | Time: |
Place to which copy of statements and auditor's report should have been delivered:
Name of issuer or company concerned:
Incorporation or registration number of issuer or company concerned (if any):
Address of issuer or company concerned: [specify registered office or, if there is no registered office in New Zealand, the principal place of business in New Zealand]
Nature of alleged infringement:
The infringement fee payable is $7,000.
Infringement notice served by [method of service] on [date of service].
The infringement fee is payable within 28 days after [date notice delivered personally or sent by post].
The infringement fee may be paid to the enforcement authority at [address]. Cheques or money orders should be made out to [specify name] and should be crossed and marked “Not transferable”.
Important: Please read the summary below—if you do not understand it, you should consult a lawyer immediately.
1 This notice sets out an alleged infringement offence.
2 If you pay the infringement fee for an alleged infringement offence within 28 days after you have been served with this notice, no further enforcement action will be taken for that offence. Payments should be made to the enforcement authority at the address for payment specified in this notice.
If, under section 21(3A) or (3C)(a) of the Summary Proceedings Act 1957, you enter or have entered into a time-to-pay arrangement with an informant in respect of an infringement fee payable by you, paragraphs 4(b), 4(c), 5, 6, and 7 below do not apply, and you are not entitled either to request a hearing to deny liability or to ask the court to consider any submissions (as to penalty or otherwise) in respect of the infringement.
3 You have a complete defence against proceedings for an alleged infringement offence if the infringement fee has been paid to the enforcement authority, at the address for payment specified in this notice, before or within 28 days after a reminder notice in respect of the alleged offence is served on you. Late payment or payment made to any other address will not constitute a defence.
4 You should write to the enforcement authority at the address for correspondence shown on the front page of this notice if you wish to—
(a) raise any matter relating to the circumstances of an alleged offence for consideration by the enforcement authority; or
(b) deny liability for the alleged offence and request a court hearing; or
(c) admit liability for the alleged offence, but wish to have a court consider written submissions as to penalty or otherwise.
The letter should be personally signed.
5 You have a right to request a hearing. If you deny liability for the alleged offence and request a hearing, the enforcement authority will serve you with a notice of hearing that sets out the place and time at which the matter will be heard by the court (unless the authority decides not to start court proceedings).
Note: If the court finds you guilty of the offence, costs will be imposed in addition to any penalty.
6 A request for a hearing must—
(a) be in writing and signed by you; and
(b) be delivered to the enforcement authority at the address for correspondence shown on the front page of this notice; and
(c) be so delivered within 28 days after you have been served with a reminder notice.
7 If you admit liability for the alleged offence but want the court to consider your submissions as to penalty or otherwise, you should, in your letter to the enforcement authority,—
(a) request a hearing; and
(b) admit liability for the offence; and
(c) set out the written submissions you wish to be considered by the court.
The enforcement authority will then file your letter with the court (unless the enforcement authority decides not to start court proceedings). There is no provision for an oral hearing before the court if you follow this course of action.
Note: Costs will be imposed in addition to any penalty.
8 If you do not pay the infringement fee and do not request a hearing in respect of an alleged offence within 28 days after you have been served with this notice, you will (unless the enforcement authority decides otherwise) be served with a reminder notice.
9 If you do not pay the infringement fee and do not request a hearing in respect of the alleged offence within 28 days after being served with the reminder notice, you will become liable to pay costs in addition to a fine (if the enforcement authority decides to start court proceedings against you). The fine will be equal to the amount of the infringement fee or the amount of the infringement fee remaining unpaid.
10 When writing or making payment of an infringement fee, please indicate—
(a) the date of the alleged infringement offence; and
(b) the infringement notice number; and
(c) your full name and address for replies.
Note: All queries and correspondence regarding the infringement offence must be directed to the enforcement authority at the address shown on the front page of this notice.
Further details of your rights and obligations are set out in section 21 of the Summary Proceedings Act 1957.
| Infringement notice No: | Date of notice: |
Infringement notice issued by: [full name of Registrar, Registrar's full title]
Address for correspondence and queries:
This notice is to remind you that an infringement notice has been issued to you. The details of the notice are as follows:
Infringement notice served on—
| Full name: | |
| Full address: | |
| Date of birth: | Occupation: |
| Gender: | Telephone number: |
The offence is one against section [specify section] of the Financial Reporting Act 1993.
| Date: | Time: |
Place to which copy of statements and auditor's report should have been delivered:
Issuer or company concerned:
Incorporation or registration number of issuer or company concerned (if any):
Address of issuer or company concerned: [specify registered office or, if there is no registered office in New Zealand, the principal place of business in New Zealand]
Nature of alleged infringement:
The infringement fee payable is $7,000.
The amount of the infringement fee remaining unpaid:
Service details [To be provided for filing in court]
Infringement notice served by [method of service] on [date of service].
Reminder notice served by [method of service] at [full address of service] on [date of service].
The infringement fee was payable to the enforcement authority within 28 days after [date infringement notice was delivered personally or sent by post]. The infringement fee remains payable to the enforcement authority at [address].
The last day for payment of the infringement fee is [insert date], being 28 days after the date of service of this notice. Cheques or money orders should be made out to [specify name] and should be crossed and marked “Not transferable”.
Important: Please read the summary below—if you do not understand it, you should consult a lawyer immediately.
1 You have not paid the infringement fee described on the front page, or asked for a hearing, within 28 days after you were served with the infringement notice. That is why you have been served with this reminder notice.
2 If you pay the infringement fee for an alleged infringement offence within 28 days after you are served with this notice, no further enforcement action will be taken for that offence. Payments should be made to the enforcement authority at the address for payment specified in this notice.
If, under section 21(3A) or (3C)(a) of the Summary Proceedings Act 1957, you enter or have entered into a time-to-pay arrangement with an informant in respect of an infringement fee payable by you, paragraphs 4(b), 4(c), 5, 6, and 7 below do not apply, and you are not entitled either to request a hearing to deny liability or to ask the court to consider any submissions (as to penalty or otherwise) in respect of the infringement.
3 You have a complete defence against proceedings for an alleged infringement offence if the infringement fee has been paid to the enforcement authority, at the address for payment specified in this notice, before or within 28 days after a reminder notice in respect of the alleged offence is served on you. Late payment or payment made to any other address will not constitute a defence.
4 You should write to the enforcement authority at the address for correspondence shown on the front page of this notice if you wish to—
(a) raise any matter relating to the circumstances of an alleged offence for consideration by the enforcement authority; or
(b) deny liability for the alleged offence and request a court hearing; or
(c) admit liability for the alleged offence, but wish to have a court consider written submissions as to penalty or otherwise.
The letter should be personally signed.
5 You have a right to request a hearing. If you deny liability for the alleged offence and request a hearing, the enforcement authority will serve you with a notice of hearing that sets out the place and time at which the matter will be heard by the court (unless the enforcement authority decides not to start court proceedings).
Note: If the court finds you guilty of the offence, costs will be imposed in addition to any penalty.
6 A request for a hearing must—
(a) be in writing and signed by you; and
(b) be delivered to the enforcement authority at the address for correspondence shown on the front page of this notice; and
(c) be so delivered within 28 days after you are served with this notice.
7 If you admit liability for the alleged offence but want the court to consider your submissions as to penalty or otherwise, you should, in your letter to the enforcement authority,—
(a) request a hearing; and
(b) admit liability for the offence; and
(c) set out the written submissions you wish to be considered by the court.
The enforcement authority will then file your letter with the court (unless the enforcement authority decides not to start court proceedings). There is no provision for an oral hearing before the court if you follow this course of action.
Note: Costs will be imposed in addition to any penalty.
8 If you do not pay the infringement fee and do not request a hearing in respect of the alleged offence within 28 days after being served with this reminder notice, you will become liable to pay costs in addition to a fine (if the enforcement authority decides to start court proceedings against you). The fine will be equal to the amount of the infringement fee or the amount of the infringement fee remaining unpaid.
9 When writing or making payment of an infringement fee, please indicate—
(a) the date of the alleged infringement offence; and
(b) the number of this reminder notice; and
(c) your full name and address for replies.
Note: All queries and correspondence regarding the infringement offence must be directed to the enforcement authority at the address shown on the front page of this notice.
Further details of your rights and obligations are set out in section 21 of the Summary Proceedings Act 1957.
Diane Morcom,
Clerk of the Executive Council.
Date of notification in Gazette: 17 May 2007.
1General
2Status of reprints
3How reprints are prepared
4Changes made under section 17C of the Acts and Regulations Publication Act 1989
5List of amendments incorporated in this reprint (most recent first)
This is a reprint of the Financial Reporting (Fees and Forms) Regulations 2007. The reprint incorporates all the amendments to the regulations as at 1 May 2011, as specified in the list of amendments at the end of these notes.
Relevant provisions of any amending enactments that contain transitional, savings, or application provisions that cannot be compiled in the reprint are also included, after the principal enactment, in chronological order. For more information, see http://www.pco.parliament.govt.nz/reprints/ 
.
Under section 16D of the Acts and Regulations Publication Act 1989, reprints are presumed to correctly state, as at the date of the reprint, the law enacted by the principal enactment and by the amendments to that enactment. This presumption applies even though editorial changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in the reprint.
This presumption may be rebutted by producing the official volumes of statutes or statutory regulations in which the principal enactment and its amendments are contained.
A number of editorial conventions are followed in the preparation of reprints. For example, the enacting words are not included in Acts, and provisions that are repealed or revoked are omitted. For a detailed list of the editorial conventions, see http://www.pco.parliament.govt.nz/editorial-conventions/ or Part 8 of the Tables of New Zealand Acts and Ordinances and Statutory Regulations and Deemed Regulations in Force.
Section 17C of the Acts and Regulations Publication Act 1989 authorises the making of editorial changes in a reprint as set out in sections 17D and 17E of that Act so that, to the extent permitted, the format and style of the reprinted enactment is consistent with current legislative drafting practice. Changes that would alter the effect of the legislation are not permitted.
A new format of legislation was introduced on 1 January 2000. Changes to legislative drafting style have also been made since 1997, and are ongoing. To the extent permitted by section 17C of the Acts and Regulations Publication Act 1989, all legislation reprinted after 1 January 2000 is in the new format for legislation and reflects current drafting practice at the time of the reprint.
In outline, the editorial changes made in reprints under the authority of section 17C of the Acts and Regulations Publication Act 1989 are set out below, and they have been applied, where relevant, in the preparation of this reprint:
•omission of unnecessary referential words (such as “of this section”
and “of this Act”
)
•typeface and type size (Times Roman, generally in 11.5 point)
•layout of provisions, including:
•indentation
•position of section headings (eg, the number and heading now appear above the section)
•format of definitions (eg, the defined term now appears in bold type, without quotation marks)
•format of dates (eg, a date formerly expressed as “the 1st day of January 1999”
is now expressed as “1 January 1999”
)
•position of the date of assent (it now appears on the front page of each Act)
•punctuation (eg, colons are not used after definitions)
•Parts numbered with roman numerals are replaced with arabic numerals, and all cross-references are changed accordingly
•case and appearance of letters and words, including:
•format of headings (eg, headings where each word formerly appeared with an initial capital letter followed by small capital letters are amended so that the heading appears in bold, with only the first word (and any proper nouns) appearing with an initial capital letter)
•small capital letters in section and subsection references are now capital letters
•schedules are renumbered (eg, Schedule 1 replaces First Schedule), and all cross-references are changed accordingly
•running heads (the information that appears at the top of each page)
•format of two-column schedules of consequential amendments, and schedules of repeals (eg, they are rearranged into alphabetical order, rather than chronological).
Financial Markets Authority Act 2011 (2011 No 5): sections 82, 84(2)
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