Under section 55 of the Financial Reporting Act 2013 (FRA 2013) some issuers will continue to have financial statement filing obligations under the Financial Reporting Act 1993 (FRA 1993) as if it had not been repealed.
This means that the FRA 1993 continues to apply to those issuers that have not yet transitioned to FMC reporting entities under the Financial Markets Conduct Act 2013 (FMC Act) regime.
During the two year transition period (31 December 2014 – 1 December 2016) issuers may be able to rely on other existing enactments to file financial statements for existing offers and schemes. However, there are defined cut-off points when only the FMC Act can be relied upon.
The financial statements may include:
- New Zealand company financial statements; and
- Group financial statements (only if the New Zealand company has a subsidiary or subsidiaries).
If you are filing New Zealand company and group financial statements, please ensure they are submitted for registration together.