1 Regulation 8.2.04 (table item 1)
Omit "New Zealand Registrar of Companies", substitute "Registrar of Financial Service Providers of New Zealand".
2 Regulation 8.2.04 (table item 2)
Omit "New Zealand Securities Commission", substitute "Financial Markets Authority of New Zealand".
3 Item 6 of Schedule 8C (heading)
Omit " Subsection ", substitute " After subsection ".
4 Item 6 of Schedule 8C
Omit "substitute", substitute "Insert:".
5 Item 6 of Schedule 8C
Omit "(2) If", substitute "(2A) Despite subsection (2), if".
6 At the end of item 6 of Schedule 8C
Add:
(2B) Despite subsection (2), if:
(a) the requirements of subsection 885C(1) are satisfied in relation to a participant and a financial market; and
(b) the loss is also connected (see section 888A) with a financial market to which Division 4 applies; and
(c) the person did not (expressly or impliedly) instruct the participant to use a particular one of those markets; and
(d) it is not reasonably apparent from the usual business practice of the participant which of those markets the participant would use when acting for the person; and
(e) the loss is connected with a transaction effected through a financial market to which Division 3 applies; and
(f) a claim cannot be made, or has been disallowed, under Division 4 (see subsection 888A(1));
the loss is taken to be a Division 3 loss and not to be a loss that is connected with a financial market to which Division 4 applies.