2017/287
Patsy Reddy, Governor-General
At Wellington this 27th day of November 2017
Present:The Right Hon Jacinda Ardern presiding in Council
These regulations are made under subpart 1 of Part 9 of the Financial Markets Conduct Act 2013—
on the advice and with the consent of the Executive Council; and
on the recommendation of the Minister of Commerce and Consumer Affairs made in accordance with section 549 of that Act.
These regulations are the Financial Markets Conduct Amendment Regulations (No 2) 2017.
These regulations come into force on 31 December 2017.
These regulations amend the Financial Markets Conduct Regulations 2014 (the principal regulations).
In regulation 5(1), insert in its appropriate alphabetical order:
New Zealand Business Number means the number allocated to an entity under section 14 of the New Zealand Business Number Act 2016
After regulation 280B, insert:
(1)
For the purpose of clause 3(1)(i) of Schedule 2 of the Act, the offer register must contain,—
for each regulated offer of debt securities, a New Zealand Business Number for each of the following persons if a New Zealand Business Number for that person has been provided to the Registrar:
the issuer:
the supervisor:
each offeror:
each guarantor; and
for each regulated offer of equity securities, a New Zealand Business Number for each of the following persons if a New Zealand Business Number for that person has been provided to the Registrar:
each offeror; and
for each regulated offer of managed investment products, a New Zealand Business Number for each of the following persons if a New Zealand Business Number for that person has been provided to the Registrar:
the manager:
for each regulated offer of derivatives, a New Zealand Business Number for each of the following persons if a New Zealand Business Number for that person has been provided to the Registrar:
each guarantor of the issuer’s obligations under the derivatives.
(2)
For the purpose of clause 6(1)(e) of Schedule 2 of the Act, the scheme register must contain a New Zealand Business Number for each of the following persons if a New Zealand Business Number for that person has been provided to the Registrar:
the independent trustee (in the case of a restricted scheme):
each custodian that is not the supervisor.
For the purpose of clause 12 of Schedule 2 of the Act,—
the offer register may be searched by reference to an issuer’s New Zealand Business Number (if any); and
the scheme register may be searched by reference to a licensed manager’s New Zealand Business Number (if any).
See clause 12(2) of Schedule 2 of the Act, which also allows a register to be searched by reference to the contents of the register.
In Schedule 1, after Part 4, insert the Part 5 set out in the Schedule of these regulations.
In Schedule 2, after clause 63(1)(b), insert:
a New Zealand Business Number (if any) for—
the issuer; and
the supervisor; and
each guarantor:
In Schedule 3, after clause 52(1)(b), insert:
a New Zealand Business Number (if any) for the issuer and each offeror:
In Schedule 4, after clause 51(1)(b), insert:
the manager; and
In Schedule 5, after clause 47(1)(b), insert:
In Schedule 6, after clause 28(b), insert:
each guarantor of the issuer’s obligations under the derivatives:
r 6
The amendments made by clauses 7 to 11 of the Financial Markets Conduct Amendment Regulations (No 2) 2017 do not apply to a register entry for which information was supplied under section 48(1)(c) of the Act before the commencement of the Financial Markets Conduct Amendment Regulations (No 2) 2017.
Michael Webster,Clerk of the Executive Council.
These regulations, which come into force on 31 December 2017, amend the Financial Markets Conduct Regulations 2014.
These regulations make the following changes:
certain New Zealand Business Numbers (if any) must be provided to the Registrar for the register entry for a regulated offer:
the register of offers for financial products and the register of managed investment schemes must contain, and be searched by reference to, certain New Zealand Business Numbers.
Issued under the authority of the Legislation Act 2012.
Date of notification in Gazette: 30 November 2017.
These regulations are administered by the Ministry of Business, Innovation, and Employment.