Financial Markets Conduct (Climate Reporting Entities in Liquidation, Wind-up, or External Administration) Exemption Notice 2024

UPDATED November 2024

An exemption has now been granted to provide relief for certain climate reporting entities (CREs). The relief comprises a class exemption for five years for each CRE, whether incorporated in New Zealand or overseas, which is in liquidation, receivership or voluntary administration (VA), and for schemes or funds in wind up, from the duties in Part 7A of the Financial Markets Conduct Act (FMC Act), comprising: 

• CREs in liquidation – full relief
• Registered schemes or funds in wind-up – full relief
• CREs in receivership or VA – relief applies for the reporting year in which the receivership or VA appointment is made and for the next 2 reporting periods.

The relief is from the whole of Part 7A of the FMC Act (and any corresponding Regulations) including:

• record-keeping obligations
• the requirement to prepare and lodge climate statements or group climate statements
• the requirement to link to the climate statements in the annual report
• the requirement to obtain an assurance engagement in relation to the climate statements.

The notice comes into force on 30 November 2024.

View the Financial Markets Conduct (Climate Reporting Entities in Liquidation, Wind-up, or External Administration) Exemption Notice 2024 

We have also published a Regulatory Impact Statement that discusses the exemption relief and summarises the problem we are seeking to address, our objectives, the options and their associated impacts, and the consultation process we undertook before deciding to grant the exemption relief.  

Download the Regulatory Impact Statement - Exemptions for Climate Reporting Entities in Liquidation, Wind-up, or External Administration [PDF 595KB]