Consultation: Renewal of class exemption for dual language (English and te reo Māori) product disclosure statements

We are reviewing whether to renew for a further five years an existing class exemption notice that allows product disclosure statements to be provided in full in both te reo Māori and English (dual language PDSs). This exemption provides relief to issuers of financial products from the prescribed length limits and, if necessary, some prescribed statements and formatting. The two languages provided in the PDS must accurately and fully reflect each other, and both comprise the entire PDS.

We invite feedback to support our review of this exemption notice. Please use the feedback form provided.

Submissions close at 5pm on Wednesday, 1 March 2023.

October 2023 update

An exemption has now been granted to continue this relief.

View the exemption notice on the New Zealand Legislation website

June 2023 update

After considering submissions in relation to our review of the dual language PDSs notice, we have decided to continue the relief. This will provide continued relief to issuers of financial products from the prescribed length limits and, if necessary, some prescribed statements and formatting. The current notice expires on 31 October 2023 and we will therefore aim to finalise a new notice to give effect to this decision before the current exemption notice expires.