The Financial Markets Conduct (Communal Facilities in Real Property Developments) Exemption Notice 2021

Summary text: The Financial Markets Conduct (Communal Facilities in Real Property Developments) Exemption Notice 2021 applies to existing shares in companies that manage communal facilities in real property developments where the shares were offered to the public in reliance on the Securities Act (Real Property Developments) Exemption Notice 2007 or a similar notice. The notice exempts a company from complying with certain continuing obligations under the Financial Markets Conduct Act 2013 (the Act) that apply after certain shares allotted under the Securities Act 1978 transition to the Act. The notice replaces, on substantially the same terms, the Financial Markets Conduct (Communal Facilities in Real Property Developments) Exemption Notice 2016, which is revoked on 27 October 2021. The notice is related to the Financial Markets Conduct (Communal Facilities in Real Property Developments) Designation Notice 2016, which provides relief through a class designation from requirements under the Act for new shares issued on or after 28 October 2016 in companies that manage communal facilities in real property developments.