Financial Markets Conduct (Asia Region Funds Passport) Regulations 2019

2019/102

Coat of Arms of New Zealand

Financial Markets Conduct (Asia Region Funds Passport) Regulations 2019

Patsy Reddy, Governor-General

Order in Council

At Wellington this 13th day of May 2019

Present:
Her Excellency the Governor-General in Council

These regulations are made under subpart 1 of Part 9 and sections 576 and 581 of the Financial Markets Conduct Act 2013

(a)

on the advice and with the consent of the Executive Council; and

(b)

on the recommendation of the Minister of Commerce and Consumer Affairs made in accordance with sections 549, 576(2), and 581(2) of that Act.

Contents

1Title
2Commencement
3Interpretation
4Transitional, savings, and related provisions
5Overview
6Countries to which recognition regime applies
7Class of financial products to which recognition regime applies
8When New Zealand is host country
9When offer is recognised offer
10Effect of recognised offer
11Preconditions
12Preconditions concerning application for entry
13Preconditions about notification under memorandum
14Preconditions for operator to lodge notice with Registrar
15Requirements for notice lodged with Registrar
16Information that must accompany notice lodged with Registrar
17Terms and conditions to be complied with
18Financial reporting information for foreign passport fund must be lodged
19Compliance with passport rules
20Registration under Financial Service Providers (Registration and Dispute Resolution) Act 2008
21Agent of operator and address for service
22Duty to notify changes
23Duty to notify contraventions of New Zealand law
24Duty to provide copy of annual implementation review
25Extension of Act and regulations to managed investment products offered in participating economy by New Zealand offeror
26Notice to Registrar of intention to make offer under passport fund recognition scheme
27Form of notice required by regulation 26
Explanatory note
Administrative Information