|Name of Notice||Financial Markets Conduct (Trustees Executors Limited) Exemption Notice 2021|
|Gazette Notification Date||2021-03-22|
|Date In Force||2021-03-24|
|Act||Financial Markets Conduct Act 2013|
|Type||Individual Exemption Notice|
Summary: The Financial Markets Conduct Act (Trustees Executors Limited) Exemption Notice 2021 (the Exemption) exempts Trustee Executors Limited (TEL), as supervisor of the Bonus Bonds Scheme (the Scheme), subject to conditions, from section 213(1)(b) of the Financial Markets Conduct Act 2013 (the Act), in respect of scheme participants that ANZ Investment Services (New Zealand) Limited, as manager of the Scheme, does not have a valid email address for, and has been notified that the participant no longer resides at their last known address or their most recent bonds transaction in the Scheme was made more than five years’ prior to 31 October 2020 (the Specified Participants). The Exemption recognises the difficulties faced by TEL in complying with the requirements of section 213(1)(b) of the Act to send Specified Participants the Scheme’s final financial statements and distribution information (the Relevant Information). The conditions to this Exemption require TEL to publicly notify in the major print and online news channels in New Zealand alternative methods for Specified Participants to obtain the Relevant Information, provide Specified Participants with the ability to request the Relevant Information from the manager or supervisor of the Scheme, and require the Relevant Information to be published on the Scheme’s website and lodged on the scheme register.