Financial Markets Conduct (Designation of Restricted Schemes) Order 2016

2016/199

Coat of Arms of New Zealand

Financial Markets Conduct (Designation of Restricted Schemes) Order 2016

Jerry Mateparae, Governor-General

Order in Council

At Wellington this 29th day of August 2016

Present:
The Right Hon John Key presiding in Council

This order is made under clause 23(2) of Schedule 4 of the Financial Markets Conduct Act 2013 on the advice and with the consent of the Executive Council and on the advice of the Minister of Commerce and Consumer Affairs given in accordance with a recommendation of the Financial Markets Authority.

Order

1 Title

This order is the Financial Markets Conduct (Designation of Restricted Schemes) Order 2016.

2 Commencement

This order comes into force on 2 September 2016.

3 Application

This order applies to a managed investment scheme on and from the date on which it is treated as being registered under clause 22 of Schedule 4 of the Financial Markets Conduct Act 2013 (the Act).

4 Designation of managed investment schemes as certain types of scheme

(1)

The managed investment schemes listed in the Schedule are designated as the type or types of scheme shown in the Schedule.

(2)

For the purposes of the Schedule, a scheme designated—

(a)

as a legacy scheme in column 3 is designated for the purposes of clause 23(1)(e) of Schedule 4 of the Act:

(b)

as a restricted legacy scheme in column 4 is designated for the purposes of clause 23(1)(d) and (e) of Schedule 4 of the Act:

(c)

as a restricted employer-related scheme in column 5 is designated for the purposes of section 172 of the Act:

(d)

as a workplace savings scheme in column 6 is designated for the purposes of clause 23(1)(f) of Schedule 4 of the Act:

(e)

as a restricted workplace savings scheme in column 7 is designated for the purposes of clause 23(1)(f) and (g) of Schedule 4 of the Act.

(3)

If a scheme is designated in relation to a section of the scheme, the scheme is designated as the type or types of scheme shown in the Schedule in respect of that section (see clause 23(3) of Schedule 4 of the Act).

(4)

In the Schedule, effective date in relation to a scheme, means the date on which the scheme is treated as being registered under clause 22 of Schedule 4 of the Act.

5 Revocation

Schedule Designation of schemes as certain types of scheme

cl 4

Note: A tick alongside the name of a scheme (or a section of a scheme) means that the scheme (or the scheme in respect of the section) is designated as the type of scheme that appears above the tick.

Column 1
Name of scheme
Column 2 Approved scheme numberColumn 3 Legacy schemeColumn 4 Restricted legacy schemeColumn 5 Restricted employer-related schemeColumn 6 Workplace savings schemeColumn 7 Restricted workplace savings scheme
3M New Zealand Limited Superannuation Scheme4456
Accident Compensation Corporation Superannuation Scheme831
Air New Zealand Superannuation Scheme606
Akzo Nobel Coatings Superannuation Plan2623
Alsco Superannuation Plan6265
AMI Superannuation Scheme1019
AMP New Zealand Personal Superannuation Fund9486
AMP (New Zealand) Staff Superannuation Plan9200
AMP (New Zealand) Staff Superannuation Plan (Section 2)7690
AMP (NMLA) New Zealand Superannuation Scheme7758
AMP Passive Personal Retirement Plan - International Passive Shares Investment Fund1319
AMP Passive Personal Retirement Plan - New Zealand Passive Shares Investment Fund1318
AMP Personal Retirement Plan1235
AMP Personal Superannuation Scheme1500
AMP Superannuation Investment Trust808
ANZ National Bank Staff Superannuation Scheme7727
ANZ National Retirement Scheme2294
Aon Group Pension Plan3304
Aon Master Trust6980
—staff section
—personal section
ASB Bank Limited Provident Savings Fund3183
ASB Superannuation Master Trust1373
—specified member section1
—ordinary member section2
—trustee member section3
Ascot1882
Asteron Retirement Plus Personal Superannuation Plan1096
Asteron Superplan640
Automobile Association (Canterbury) Incorporated Staff Superannuation Plan7143
Bank of New Zealand Officers’ Provident Association3413
Baptist Union Superannuation Scheme3423
Beca Group Superannuation Plan3478
Beca Super Scheme1669
BIC (NZ) Limited Superannuation Scheme6846
BIL NZ Group Pension Plan3631
BOC New Zealand Retirement Plan527
Bostik NZ DB Superannuation Fund716
BP New Zealand Retirement Plan3602
Britannia Superannuation Scheme1353
Britannia Superannuation Scheme 20121930
Carter Holt Harvey Retirement Plan2266
Colgate-Palmolive Limited Superannuation Plan7375
Commercial Union General Insurance Staff Pension Scheme4000
Craigs Investment Partners Superannuation Scheme1642
—employer section4
—individual member section5
Dairy Industry Superannuation Scheme4126
Defence Force Superannuation Scheme1331
Deloitte Retirement Plan1181
DIC New Zealand Superannuation Scheme3947
Douglas Pharmaceuticals Limited Staff Superannuation Scheme9762
EDS (New Zealand) Staff Superannuation Fund4139
Employee Retirement Plan1423
Evergreen Retirement Trust1924
Fairfax New Zealand Retirement Fund351
Fairfax NZ Senior Executive Superannuation Scheme5777
Fidelity Super-Super Plan, Number 31052
Fisher Funds LifeSaver Plan1121
—workplace savings section6
—individual investor section5
Fletcher Building Retirement Plan8985
Fonterra Superannuation Scheme743
Foodstuffs Provident Fund5154
Foodstuffs (Wellington) Co-operative Society Limited Superannuation Scheme3760
Ford Motor Company of New Zealand Limited Pension Fund6238
FreedomPlan1098
Fuji Xerox New Zealand Superannuation Plan1346
Future Lifestyle Plan6166
FuturePlan410
GBP International Superannuation Scheme1960
Glaxo New Zealand Pension Plan5360
GMI Superannuation Scheme1758
—employer section7
—legacy section8
Goodman Fielder (NZ) Retirement Plan4760
Guardian Assurance Superannuation Plan5431
Heinz-Wattie Pension Plan991
Holcim (New Zealand) Limited Superannuation Fund2234
Holden New Zealand Limited Pension Plan1499
i-Select Superannuation Scheme1953
IBM New Zealand Limited Pension Scheme5773
Imperial New Zealand Superannuation Fund4889
Inland Revenue Department Superannuation Scheme1027
Investor Choice Superannuation Scheme1794
Johnson & Johnson (New Zealand) Limited Staff Pension Plan5939
KPMG Retirement Savings Plan1066
Lion Employee Benefit Plan2324
Local Government Superannuation Scheme1527
Maritime Retirement Scheme3390
Marsh & McLennan New Zealand Superannuation Scheme5176
Meat Industry Superannuation Scheme823
Medical Assurance Society Retirement Savings Plan1086
—workplace savings section9
—individual section10
Mercer (NZ) Retirement Plan8949
Mercer Super Trust1320
—Section A of the DC Division11
—Section B of the DC Division12
MFL Mutual Fund2282
Mobil Employee Retirement and Benefits Plan1825
National Mutual Goldline Series Superannuation Scheme770
National Mutual Individual Lump Sum Superannuation Scheme6974
National Mutual Individual Pension Superannuation Scheme6973
Nestlé New Zealand Pension Fund6652
New Zealand Anglican Church Pension Fund2022
New Zealand Automobile Association Incorporated Superannuation Scheme923
New Zealand Fire Service Superannuation Scheme6231
New Zealand Harbours Superannuation Plan224
New Zealand Post Superannuation Scheme6206
New Zealand Refining Company Pension Fund2301
New Zealand Retirement Trust1200
—workplace savings section13
—personal section5
New Zealand Steel Pension Fund2310
NZ Endeavour Fund1911
Orica New Zealand Limited Retirement Plan5775
Otis NZ Superannuation Plan9280
Peat Marwick Mitchell (Auckland) Superannuation Fund9208
Penrose Retirement Scheme1700
PGG Wrightson Employee Benefits Plan4883
Police Superannuation Scheme987
Portfolio Superannuation Fund6899
Presbyterian Church of Aotearoa New Zealand Beneficiary Fund2675
—Part C open defined benefit section
—Part B closed defined benefit section
Reckitt & Coleman New Zealand Pension Fund2776
Reed Elsevier New Zealand Superannuation Scheme3741
Renold New Zealand Limited Superannuation Plan7745
Reserve Bank of New Zealand Staff Superannuation and Provident Fund2817
RIG Superannuation Fund2917
Rio Tinto New Zealand Retirement Fund1192
Sealed Air (New Zealand) Superannuation Fund5336
Shell New Zealand Pension Plan3037
SIFCO Distributors Limited Superannuation Trust Fund4398
SIL Mutual Fund Employer Lump Sum Scheme6293
SIL Mutual Fund Personal Lump Sum Scheme6288
Smith & Nephew Limited Superannuation Scheme3100
Southern Cross Building Society Staff Superannuation Scheme1160
Sovereign Staff Retirement Fund3980
Suncorp New Zealand Superannuation Scheme1363
Super Trustee Fund1837
Superannuation Master Trust1365
Superbond 2000 Retirement Plan433
SuperLife1068
—SuperLife workplace savings section6
—SuperLife legacy section14
Supernumerary Fund of the Methodist Church of New Zealand1772
The Asteron Superannuation Fund9958
The Church of Jesus Christ of Latter-Day Saints Deseret Benefit Plan of New Zealand9576
The Colonial Motor Company Limited Staff Superannuation Fund7284
The IVCM (NZ) PIE Superannuation Fund1865
The Retire Fund791
—participating party section
—private member section
The Salvation Army New Zealand Officers’ Superannuation Scheme2042
The Tasman-Kaingaroa Employees Retirement Scheme6681
The United Distillers (NZ) Limited Pension Fund4243
Todd Group Pension Plan Trust4474
Toyota New Zealand Group Pension Plan4018
Unilever New Zealand Superannuation Scheme1241
UNISAVER New Zealand981
Unisys New Zealand Employees Retirement Income Fund3722
Vero and Asteron New Zealand Staff Pension Scheme3356
Westpac New Zealand Staff Superannuation Scheme7436
Westpac Retirement Plan9390
Whitcoulls Group Pension Fund2938
Winstone Pulp International Superannuation Plan461
Works Superannuation Scheme486
Wrightson Retirement Scheme1090
Wrigley Company (NZ) Limited Retirement Income Scheme4938
Notes
1 Section that accepts contributions from participating employers who have signed an admission deed and from their employee members
2 Section that accepts contributions only from individual or joint natural persons who are members on the effective date
3 Section that accepts contributions only from persons who are trustees or managers of a scheme and who are members on the effective date
4 Section that accepts contributions only from participating employers who have signed a participating agreement and from members associated with a participating employer
5 Section that accepts contributions only from natural persons who are members on the effective date
6 Section that accepts contributions only from participating employers who have signed a participation agreement or deed
7 Section that admits as members (both in its conditions of entry of scheme participants and in the way those conditions are applied on entry) only either or both of the following: (i) eligible individuals (within the meaning of section 130 of the Act); and (ii) persons who are the trustees or managers of a retirement scheme
8 Section that accepts contributions only from members of the scheme (other than members of the employer section) on the effective date who are individuals or the trustees or managers of a retirement scheme
9 Section that accepts contributions only from members who join on or after the effective date
10 Section that accepts contributions only from members who join before the effective date
11 Section that accepts contributions from participating employers who have signed a participation deed and from members associated with a participating employer
12 Section that is closed to new members on and from the effective date but in respect of which contributions may be accepted in respect of existing members
13 Section that: (i) admits as members (both in its conditions of entry of scheme participants and in the way those conditions are applied on entry) only either or both of the following: (A) eligible individuals (within the meaning of section 130 of the Act); and (B) persons who are the trustees or managers of a retirement scheme; and (ii) includes members admitted as eligible individuals who choose to remain as members of this section upon ceasing to be subject to the rules of the relevant employer agreement
14 Section that accepts contributions only from designated employee members, individual members, spouse members, and myFutureFund members

Michael Webster,
Clerk of the Executive Council.

Explanatory note

This note is not part of the order, but is intended to indicate its general effect.

This order comes into force on 2 September 2016. The order replaces the Financial Markets Conduct (Restricted Schemes) Order 2016 (the previous order).

The order designates a number of managed investment schemes to each be a particular type of scheme. The order makes an amendment to one of the designations in the previous order and adds designations for a number of further schemes.

The designations are made on the basis that the provider of each scheme has requested the designation, and on the basis that each scheme meets the requirements of sections 129 to 131 of the Financial Markets Conduct Act 2013.

This order designates a number of managed investment schemes to be more than 1 type of scheme. The Financial Markets Authority is satisfied that these managed investment schemes meet all of the criteria relevant to each designation.

This order is part of the same series as the previous order (which is revoked by this order) and the Financial Markets Conduct (Restricted Schemes) Order 2015 (which was revoked by the previous order).

Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 1 September 2016.

This order is administered by the Ministry of Business, Innovation, and Employment.