Financial Markets Authority (Levies) Regulations 2012

  • not the latest version
7 Meaning of total managed assets (class 5)


In these regulations, total managed assets, in relation to a person in class 5, means the total value of the assets of all schemes for which the person is the manager or superannuation trustee other than—


a KiwiSaver scheme for which the person is the KiwiSaver trustee (as defined in section 4(1) of the FMS Act as in force immediately before 1 December 2014); or


a scheme, for which the person is the manager, in relation to participatory securities that are shares in a building society or in an industrial or provident society registered under the Industrial and Provident Societies Act 1908.


The assets of a scheme are its total assets—


as reported in the most recent audited financial statements, prepared in accordance with GAAP, for the scheme; or


if there are no such statements, as calculated—


for a date as near as possible to the leviable event; and


as if for the purpose of preparing financial statements for the scheme in accordance with GAAP.

Regulation 7(1)(a): amended, on 1 December 2014, by regulation 7 of the Financial Markets Authority (Levies) Amendment Regulations (No 2) 2014 (LI 2014/334).