Financial Markets Conduct (NZX–NXT Market) Exemption Amendment Notice 2018
Financial Markets Conduct (NZX–NXT Market) Exemption Amendment Notice 2018: revoked, on the close of 30 June 2019, pursuant to clause 3 of the Financial Markets Conduct (NZX–NXT Market) Exemption Notice 2014 (LI 2014/357).
Reprint as at 1 July 2019
Financial Markets Conduct (NZX–NXT Market) Exemption Amendment Notice 2018
(LI 2018/265)
Financial Markets Conduct (NZX–NXT Market) Exemption Amendment Notice 2018: revoked, on the close of 30 June 2019, pursuant to clause 3 of the Financial Markets Conduct (NZX–NXT Market) Exemption Notice 2014 (LI 2014/357).
Note
Changes authorised by subpart 2 of Part 2 of the Legislation Act 2012 have been made in this official reprint.
Note 4 at the end of this reprint provides a list of the amendments incorporated.
This notice is administered by the Financial Markets Authority.
Pursuant to section 556 of the Financial Markets Conduct Act 2013, the Financial Markets Authority, being satisfied of the matters set out in section 557 of that Act, gives the following notice.
Notice
1 Title
This notice is the Financial Markets Conduct (NZX–NXT Market) Exemption Amendment Notice 2018.
2 Commencement
This notice comes into force on 1 January 2019.
3 Principal notice
This notice amends the Financial Markets Conduct (NZX–NXT Market) Exemption Notice 2014 (the principal notice).
4 Clause 3 amended (Revocation)
In clause 3, replace “30 November 2019”
with “30 June 2019”
.
Dated at Wellington this 12th day of December 2018.
Nick Kynoch,
General Counsel.
Statement of reasons
This notice comes into force on 1 January 2019. It amends the Financial Markets Conduct (NZX–NXT Market) Exemption Notice 2014 (the principal notice) to change the date on which the principal notice is revoked from 30 November 2019 to 30 June 2019. The principal notice exempts issuers on NZX Limited’s NXT market from various product disclosure statement and register entry requirements contained in the Financial Markets Conduct Regulations 2014.
The Financial Markets Authority (the FMA), after satisfying itself as to the matters set out in section 557 of the Financial Markets Conduct Act 2013 (the Act), considers it appropriate to amend the principal notice because NZX Limited is closing the NXT market on 30 June 2019. Therefore, the FMA considers that, from 1 July 2019, the exemptions contained in the principal notice will no longer be necessary or desirable in order to promote the purposes of the Act, nor necessary to address the matters that gave rise to the exemptions.
Date of notification in Gazette: 14 December 2018.
Reprints notes
1 General
This is a reprint of the Financial Markets Conduct (NZX–NXT Market) Exemption Amendment Notice 2018 that incorporates all the amendments to that notice as at the date of the last amendment to it.
2 Legal status
Reprints are presumed to correctly state, as at the date of the reprint, the law enacted by the principal enactment and by any amendments to that enactment. Section 18 of the Legislation Act 2012 provides that this reprint, published in electronic form, has the status of an official version under section 17 of that Act. A printed version of the reprint produced directly from this official electronic version also has official status.
3 Editorial and format changes
Editorial and format changes to reprints are made using the powers under sections 24 to 26 of the Legislation Act 2012. See also http://www.pco.parliament.govt.nz/editorial-conventions/.
4 Amendments incorporated in this reprint
Financial Markets Conduct (NZX–NXT Market) Exemption Notice 2014 (LI 2014/357): clause 3