Panel consults on proposed amendments to capital markets legislation
Published 11 August 2021
In July 2021, the Panel released a consultation paper seeking input on a range of proposed amendments to the Code, as well as to other legislation which broadly relate to New Zealand’s capital markets.
The consultation paper addresses five proposed substantive amendments:
- Definition of Code company: 12-month ‘look-back’ period.
- Update to rule 64 of the Code to reflect the Financial Markets Conduct Act 2013.
- Court’s power to grant mandatory injunctions.
- Making non-payment of consideration a breach of the Code.
- Financing of offers.
- Making non-payment of consideration a breach of the Code.
- Financing of offers.
There are also a number of other proposed technical amendments of low policy content.
The consultation paper is on the Panel’s website. Please make your submissions by Friday, 27 August 2021. See the consultation paper for details on how to make submissions.
