2016/199
Financial Markets Conduct (Designation of Restricted Schemes) Order 2016
Jerry Mateparae, Governor-General
Order in Council
At Wellington this 29th day of August 2016
Present:The Right Hon John Key presiding in Council
This order is made under clause 23(2) of Schedule 4 of the Financial Markets Conduct Act 2013 on the advice and with the consent of the Executive Council and on the advice of the Minister of Commerce and Consumer Affairs given in accordance with a recommendation of the Financial Markets Authority.
Contents
1
Title
2
Commencement
3
Application
4
Designation of managed investment schemes as certain types of scheme
5
Revocation
Schedule Designation of schemes as certain types of scheme
Explanatory note
Administrative Information
Order
1 Title
This order is the Financial Markets Conduct (Designation of Restricted Schemes) Order 2016.
2 Commencement
This order comes into force on 2 September 2016.
3 Application
This order applies to a managed investment scheme on and from the date on which it is treated as being registered under clause 22 of Schedule 4 of the Financial Markets Conduct Act 2013 (the Act).
4 Designation of managed investment schemes as certain types of scheme
(1)
The managed investment schemes listed in the Schedule are designated as the type or types of scheme shown in the Schedule.
(2)
For the purposes of the Schedule, a scheme designated—
(a)
as a legacy scheme in column 3 is designated for the purposes of clause 23(1)(e) of Schedule 4 of the Act:
(b)
as a restricted legacy scheme in column 4 is designated for the purposes of clause 23(1)(d) and (e) of Schedule 4 of the Act:
(c)
as a restricted employer-related scheme in column 5 is designated for the purposes of section 172 of the Act:
(d)
as a workplace savings scheme in column 6 is designated for the purposes of clause 23(1)(f) of Schedule 4 of the Act:
(e)
as a restricted workplace savings scheme in column 7 is designated for the purposes of clause 23(1)(f) and (g) of Schedule 4 of the Act.
(3)
If a scheme is designated in relation to a section of the scheme, the scheme is designated as the type or types of scheme shown in the Schedule in respect of that section (see clause 23(3) of Schedule 4 of the Act).
(4)
In the Schedule, effective date in relation to a scheme, means the date on which the scheme is treated as being registered under clause 22 of Schedule 4 of the Act.
5 Revocation
The Financial Markets Conduct (Restricted Schemes) Order 2016 (LI 2016/119) is revoked.
Schedule Designation of schemes as certain types of scheme
cl 4
Note: A tick alongside the name of a scheme (or a section of a scheme) means that the scheme (or the scheme in respect of the section) is designated as the type of scheme that appears above the tick.
Column 1Name of scheme
Column 2 Approved scheme number
Column 3 Legacy scheme
Column 4 Restricted legacy scheme
Column 5 Restricted employer-related scheme
Column 6 Workplace savings scheme
Column 7 Restricted workplace savings scheme
3M New Zealand Limited Superannuation Scheme
4456
✓
✓
Accident Compensation Corporation Superannuation Scheme
831
✓
✓
Air New Zealand Superannuation Scheme
606
✓
✓
Akzo Nobel Coatings Superannuation Plan
2623
✓
✓
Alsco Superannuation Plan
6265
✓
✓
AMI Superannuation Scheme
1019
✓
✓
AMP New Zealand Personal Superannuation Fund
9486
✓
AMP (New Zealand) Staff Superannuation Plan
9200
✓
✓
AMP (New Zealand) Staff Superannuation Plan (Section 2)
7690
✓
✓
AMP (NMLA) New Zealand Superannuation Scheme
7758
✓
✓
AMP Passive Personal Retirement Plan - International Passive Shares Investment Fund
1319
✓
AMP Passive Personal Retirement Plan - New Zealand Passive Shares Investment Fund
1318
✓
AMP Personal Retirement Plan
1235
✓
AMP Personal Superannuation Scheme
1500
✓
AMP Superannuation Investment Trust
808
✓
ANZ National Bank Staff Superannuation Scheme
7727
✓
✓
ANZ National Retirement Scheme
2294
✓
✓
Aon Group Pension Plan
3304
✓
✓
Aon Master Trust
6980
—staff section
✓
—personal section
✓
ASB Bank Limited Provident Savings Fund
3183
✓
✓
ASB Superannuation Master Trust
1373
—specified member section1
✓
—ordinary member section2
✓
—trustee member section3
✓
Ascot
1882
✓
Asteron Retirement Plus Personal Superannuation Plan
1096
✓
Asteron Superplan
640
✓
Automobile Association (Canterbury) Incorporated Staff Superannuation Plan
7143
✓
✓
Bank of New Zealand Officers’ Provident Association
3413
✓
Baptist Union Superannuation Scheme
3423
✓
Beca Group Superannuation Plan
3478
✓
✓
Beca Super Scheme
1669
✓
✓
BIC (NZ) Limited Superannuation Scheme
6846
✓
✓
BIL NZ Group Pension Plan
3631
✓
✓
BOC New Zealand Retirement Plan
527
✓
✓
Bostik NZ DB Superannuation Fund
716
✓
✓
BP New Zealand Retirement Plan
3602
✓
✓
Britannia Superannuation Scheme
1353
✓
Britannia Superannuation Scheme 2012
1930
✓
Carter Holt Harvey Retirement Plan
2266
✓
✓
Colgate-Palmolive Limited Superannuation Plan
7375
✓
✓
Commercial Union General Insurance Staff Pension Scheme
4000
✓
✓
Craigs Investment Partners Superannuation Scheme
1642
—employer section4
✓
—individual member section5
✓
Dairy Industry Superannuation Scheme
4126
✓
✓
Defence Force Superannuation Scheme
1331
✓
Deloitte Retirement Plan
1181
✓
✓
DIC New Zealand Superannuation Scheme
3947
✓
✓
Douglas Pharmaceuticals Limited Staff Superannuation Scheme
9762
✓
✓
EDS (New Zealand) Staff Superannuation Fund
4139
✓
✓
Employee Retirement Plan
1423
✓
✓
Evergreen Retirement Trust
1924
✓
Fairfax New Zealand Retirement Fund
351
✓
✓
Fairfax NZ Senior Executive Superannuation Scheme
5777
✓
✓
Fidelity Super-Super Plan, Number 3
1052
✓
Fisher Funds LifeSaver Plan
1121
—workplace savings section6
✓
—individual investor section5
✓
Fletcher Building Retirement Plan
8985
✓
✓
Fonterra Superannuation Scheme
743
✓
✓
Foodstuffs Provident Fund
5154
✓
✓
Foodstuffs (Wellington) Co-operative Society Limited Superannuation Scheme
3760
✓
✓
Ford Motor Company of New Zealand Limited Pension Fund
6238
✓
✓
FreedomPlan
1098
✓
Fuji Xerox New Zealand Superannuation Plan
1346
✓
✓
Future Lifestyle Plan
6166
✓
FuturePlan
410
✓
GBP International Superannuation Scheme
1960
✓
Glaxo New Zealand Pension Plan
5360
✓
✓
GMI Superannuation Scheme
1758
—employer section7
✓
—legacy section8
✓
Goodman Fielder (NZ) Retirement Plan
4760
✓
✓
Guardian Assurance Superannuation Plan
5431
✓
✓
Heinz-Wattie Pension Plan
991
✓
✓
Holcim (New Zealand) Limited Superannuation Fund
2234
✓
✓
Holden New Zealand Limited Pension Plan
1499
✓
✓
i-Select Superannuation Scheme
1953
✓
IBM New Zealand Limited Pension Scheme
5773
✓
✓
Imperial New Zealand Superannuation Fund
4889
✓
✓
Inland Revenue Department Superannuation Scheme
1027
✓
✓
Investor Choice Superannuation Scheme
1794
✓
Johnson & Johnson (New Zealand) Limited Staff Pension Plan
5939
✓
✓
KPMG Retirement Savings Plan
1066
✓
✓
Lion Employee Benefit Plan
2324
✓
✓
Local Government Superannuation Scheme
1527
✓
✓
Maritime Retirement Scheme
3390
✓
Marsh & McLennan New Zealand Superannuation Scheme
5176
✓
✓
Meat Industry Superannuation Scheme
823
✓
✓
Medical Assurance Society Retirement Savings Plan
1086
—workplace savings section9
✓
—individual section10
✓
Mercer (NZ) Retirement Plan
8949
✓
✓
Mercer Super Trust
1320
—Section A of the DC Division11
✓
—Section B of the DC Division12
✓
MFL Mutual Fund
2282
✓
Mobil Employee Retirement and Benefits Plan
1825
✓
✓
National Mutual Goldline Series Superannuation Scheme
770
✓
National Mutual Individual Lump Sum Superannuation Scheme
6974
✓
National Mutual Individual Pension Superannuation Scheme
6973
✓
Nestlé New Zealand Pension Fund
6652
✓
✓
New Zealand Anglican Church Pension Fund
2022
✓
New Zealand Automobile Association Incorporated Superannuation Scheme
923
✓
✓
New Zealand Fire Service Superannuation Scheme
6231
✓
✓
New Zealand Harbours Superannuation Plan
224
✓
New Zealand Post Superannuation Scheme
6206
✓
✓
New Zealand Refining Company Pension Fund
2301
✓
✓
New Zealand Retirement Trust
1200
—workplace savings section13
✓
—personal section5
✓
New Zealand Steel Pension Fund
2310
✓
✓
NZ Endeavour Fund
1911
✓
Orica New Zealand Limited Retirement Plan
5775
✓
✓
Otis NZ Superannuation Plan
9280
✓
✓
Peat Marwick Mitchell (Auckland) Superannuation Fund
9208
✓
✓
Penrose Retirement Scheme
1700
✓
PGG Wrightson Employee Benefits Plan
4883
✓
✓
Police Superannuation Scheme
987
✓
✓
Portfolio Superannuation Fund
6899
✓
Presbyterian Church of Aotearoa New Zealand Beneficiary Fund
2675
—Part C open defined benefit section
✓
—Part B closed defined benefit section
✓
Reckitt & Coleman New Zealand Pension Fund
2776
✓
✓
Reed Elsevier New Zealand Superannuation Scheme
3741
✓
✓
Renold New Zealand Limited Superannuation Plan
7745
✓
✓
Reserve Bank of New Zealand Staff Superannuation and Provident Fund
2817
✓
✓
RIG Superannuation Fund
2917
✓
✓
Rio Tinto New Zealand Retirement Fund
1192
✓
✓
Sealed Air (New Zealand) Superannuation Fund
5336
✓
✓
Shell New Zealand Pension Plan
3037
✓
✓
SIFCO Distributors Limited Superannuation Trust Fund
4398
✓
✓
SIL Mutual Fund Employer Lump Sum Scheme
6293
✓
SIL Mutual Fund Personal Lump Sum Scheme
6288
✓
Smith & Nephew Limited Superannuation Scheme
3100
✓
✓
Southern Cross Building Society Staff Superannuation Scheme
1160
✓
✓
Sovereign Staff Retirement Fund
3980
✓
✓
Suncorp New Zealand Superannuation Scheme
1363
✓
✓
Super Trustee Fund
1837
✓
Superannuation Master Trust
1365
✓
Superbond 2000 Retirement Plan
433
✓
SuperLife
1068
—SuperLife workplace savings section6
✓
—SuperLife legacy section14
✓
Supernumerary Fund of the Methodist Church of New Zealand
1772
✓
The Asteron Superannuation Fund
9958
✓
The Church of Jesus Christ of Latter-Day Saints Deseret Benefit Plan of New Zealand
9576
✓
The Colonial Motor Company Limited Staff Superannuation Fund
7284
✓
✓
The IVCM (NZ) PIE Superannuation Fund
1865
✓
The Retire Fund
791
—participating party section
✓
—private member section
✓
The Salvation Army New Zealand Officers’ Superannuation Scheme
2042
✓
The Tasman-Kaingaroa Employees Retirement Scheme
6681
✓
✓
The United Distillers (NZ) Limited Pension Fund
4243
✓
✓
Todd Group Pension Plan Trust
4474
✓
✓
Toyota New Zealand Group Pension Plan
4018
✓
✓
Unilever New Zealand Superannuation Scheme
1241
✓
✓
UNISAVER New Zealand
981
✓
✓
Unisys New Zealand Employees Retirement Income Fund
3722
✓
✓
Vero and Asteron New Zealand Staff Pension Scheme
3356
✓
✓
Westpac New Zealand Staff Superannuation Scheme
7436
✓
✓
Westpac Retirement Plan
9390
✓
Whitcoulls Group Pension Fund
2938
✓
✓
Winstone Pulp International Superannuation Plan
461
✓
Works Superannuation Scheme
486
✓
✓
Wrightson Retirement Scheme
1090
✓
✓
Wrigley Company (NZ) Limited Retirement Income Scheme
4938
✓
✓
Notes
1 Section that accepts contributions from participating employers who have signed an admission deed and from their employee members
2 Section that accepts contributions only from individual or joint natural persons who are members on the effective date
3 Section that accepts contributions only from persons who are trustees or managers of a scheme and who are members on the effective date
4 Section that accepts contributions only from participating employers who have signed a participating agreement and from members associated with a participating employer
5 Section that accepts contributions only from natural persons who are members on the effective date
6 Section that accepts contributions only from participating employers who have signed a participation agreement or deed
7 Section that admits as members (both in its conditions of entry of scheme participants and in the way those conditions are applied on entry) only either or both of the following: (i) eligible individuals (within the meaning of section 130 of the Act); and (ii) persons who are the trustees or managers of a retirement scheme
8 Section that accepts contributions only from members of the scheme (other than members of the employer section) on the effective date who are individuals or the trustees or managers of a retirement scheme
9 Section that accepts contributions only from members who join on or after the effective date
10 Section that accepts contributions only from members who join before the effective date
11 Section that accepts contributions from participating employers who have signed a participation deed and from members associated with a participating employer
12 Section that is closed to new members on and from the effective date but in respect of which contributions may be accepted in respect of existing members
13 Section that: (i) admits as members (both in its conditions of entry of scheme participants and in the way those conditions are applied on entry) only either or both of the following: (A) eligible individuals (within the meaning of section 130 of the Act); and (B) persons who are the trustees or managers of a retirement scheme; and (ii) includes members admitted as eligible individuals who choose to remain as members of this section upon ceasing to be subject to the rules of the relevant employer agreement
14 Section that accepts contributions only from designated employee members, individual members, spouse members, and myFutureFund members
Michael Webster,Clerk of the Executive Council.
Explanatory note
This note is not part of the order, but is intended to indicate its general effect.
This order comes into force on 2 September 2016. The order replaces the Financial Markets Conduct (Restricted Schemes) Order 2016 (the previous order).
The order designates a number of managed investment schemes to each be a particular type of scheme. The order makes an amendment to one of the designations in the previous order and adds designations for a number of further schemes.
The designations are made on the basis that the provider of each scheme has requested the designation, and on the basis that each scheme meets the requirements of sections 129 to 131 of the Financial Markets Conduct Act 2013.
This order designates a number of managed investment schemes to be more than 1 type of scheme. The Financial Markets Authority is satisfied that these managed investment schemes meet all of the criteria relevant to each designation.
This order is part of the same series as the previous order (which is revoked by this order) and the Financial Markets Conduct (Restricted Schemes) Order 2015 (which was revoked by the previous order).
Issued under the authority of the Legislation Act 2012.
Date of notification in Gazette: 1 September 2016.
This order is administered by the Ministry of Business, Innovation, and Employment.
