New Zealand Legislation: Regulations

12 Market administrator must notify participant allegedly in breach

• (1) If the market administrator receives a breach notice, the market administrator must—

  • (a) acknowledge receipt of the breach notice in any manner considered appropriate by the market administrator; and

  • (b) notify the participant allegedly in breach of the following:

    • (i) the name of the notifying participant or other person that gave the breach notice; and

    • (ii) the rule allegedly breached; and

    • (iii) the alleged circumstances relating to the alleged breach; and

    • (iv) the estimated date and time on which the alleged breach occurred.

  (2) The market administrator must use reasonable endeavours to give the acknowledgement and notice within 5 business days of receiving the breach notice.