|Name of Notice||Financial Markets Conduct (Small Co-operatives) Exemption Notice 2022|
|Gazette Notification Date||2022-12-12|
|Date In Force||2022-12-23|
|Act||Financial Markets Conduct|
Summary: This exemption notice provides co-operative companies and industrial and provident societies with a lighter regulatory compliance pathway. The notice applies to these entities:
The exemption thresholds have been increased from $5,000 and $2 million respectively.
Note that irrigation schemes which are registered co-operative companies can rely on this notice according to its terms. Irrigation schemes that are registered companies should refer to the FMC (Irrigation Companies) Exemption Notice 2022 for the equivalent relief.