Pursuant to section 38 of the Securities Markets Act 1988, the Securities Commission gives the following notice.
N o t i c e
Clause 1: Title, commencement and expiry
1(1) This notice is the Authorised Futures Dealers (Figure Eight Global Investors Limited) Notice 2009.
1(2) This notice comes into force on the day after the date of its publication in the New Zealand Gazette.
1(3) This notice expires on the close of 31 July 2014.
Clause 2: Interpretation
2(1) In this notice, unless the context otherwise requires:
“Act” means the Securities Markets Act 1988.
“Company” means Figure Eight Global Investors Limited.
“recognised exchange” means an authorised futures exchange or any exchange in a country other than New Zealand which is authorised by the laws of that country to operate as a futures exchange.
2(2) Any term or expression that is defined in the Act and used, but not defined, in this notice has the same meaning as in the Act.
Clause 3: Authorisation
3(1) The Company is authorised to carry on the business of dealing in futures contracts generally.
3(2) The authorisation in clause 3(1) is subject to the conditions that:
(a) the Company deals only on behalf of its approved clients, being a client who is:
(i) a person who controls at least $10 million; or
(ii) a trustee of a trust or a funds manager, acting in that capacity, who has under that person’s control, as trustee or funds manager, net assets of at least $10 million; or
(iii) a person who is authorised to carry on the business of dealing in futures contracts under the Act; or
(iv) a person authorised in another jurisdiction by the competent authority of that jurisdiction to deal in futures contracts; or
(v) Her Majesty The Queen in right of
New Zealand, a Crown entity named in
the Crown Entities Act 2004, or a State enterprise named in the First or Second Schedule to the State-Owned Enterprises
Act 1986 (each as amended from time to time); or
(vi) a person who is a statutory corporation or a registered bank; or
(vii) a person whose principal business is the investment of money or who, in the course of and for the purposes of their business, habitually invests money; or
(viii) a person who is a relative or close business associate of a director of the company; or
(ix) a person who is a related body corporate
of any of the persons mentioned in subparagraphs (i) to (viii) above; and
(b) before dealing in any futures contract in respect of which the authorisation applies, the Company is satisfied on reasonable grounds that the approved client is contracting:
(i) as principal on its own account; or
(ii) on behalf of a related body corporate; or
(iii) as trustee of a trust or manager of a managed fund; and
(c) in respect of any futures contract that is made on
or effected through a recognised exchange, any acquisition or disposal of the contract is effected through a person who is an authorised participant or member of the recognised exchange and who is authorised or licensed by the laws of the country in which it operates to deal in futures contracts on behalf of that person and to hold client money for that purpose; and
(d) the Company provides the Commission with a copy of its audited annual financial statements
no later than three months after the end of each financial year for the Company; and
(e) the Company notifies the Commission of any material matter concerning its authorisation as a futures dealer.
Dated at Wellington this 21st day of July 2009.
The Common Seal of the Securities Commission was affixed in the presence of:
[L.S.]
JANE DIPLOCK, Chairperson.