Financial Markets Conduct Act 2013

If you need more information about this Act, please contact the administering agency: Ministry of Business, Innovation, and Employment

Subpart 1—Governance of debt securities

103 Need for governing document and supervisor for regulated offer of debt security


A person must not make a regulated offer of a debt security unless—


there is a trust deed for the debt security that—


complies with sections 104 to 106; and


is lodged with the Registrar with a certificate from the issuer and supervisor to the effect that the trust deed complies with those sections on the basis set out in the certificate; and


there is a licensed supervisor—


who is designated or appointed as the trustee under the trust deed for the debt security (or under the Financial Markets Supervisors Act 2011); and


whose licence covers supervision of the debt security.


A reference in this subpart to—


a trust deed is a reference to the trust deed required by subsection (1); and


a debt security is a reference to a debt security offered under a regulated offer.


The issuer of the debt security must ensure that there continues to be a trust deed and licensed supervisor as required by subsection (1) until the debt security is cancelled, redeemed, or forfeited, or all of the obligations owing under the debt security have been discharged.

Compare: 1978 No 103 s 33(2)