Financial Markets (Derivatives Margin and Benchmarking) Reform Amendment Act Commencement Order 2020

2020/314

Coat of Arms of New Zealand

Financial Markets (Derivatives Margin and Benchmarking) Reform Amendment Act Commencement Order 2020

Patsy Reddy, Governor-General

Order in Council

At Wellington this 14th day of December 2020

Present:
The Right Hon Jacinda Ardern presiding in Council

This order is made under section 2 of the Financial Markets (Derivatives Margin and Benchmarking) Reform Amendment Act 2019 on the advice and with the consent of the Executive Council.

Order

1 Title

This order is the Financial Markets (Derivatives Margin and Benchmarking) Reform Amendment Act Commencement Order 2020.

2 Commencement of remaining provisions of Financial Markets (Derivatives Margin and Benchmarking) Reform Amendment Act 2019

The remaining provisions of the Financial Markets (Derivatives Margin and Benchmarking) Reform Amendment Act 2019 that have not earlier been brought into force come into force on 14 March 2021.

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 brings into force, on 14 March 2021, the provisions of the Financial Markets (Derivatives Margin and Benchmarking) Reform Amendment Act 2019 (the Act) that are not already in force. In particular, this order commences Part 2 of the Act, which provides for the licensing of administrators of financial benchmarks.

Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 17 December 2020.

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