1. Compliance
  2. Exemptions
  3. Current exemption notices
  4. Financial Markets Conduct Act exemptions
  5. Financial Markets Conduct (AIA International Limited) Exemption Notice 2021

Financial Markets Conduct (AIA International Limited) Exemption Notice 2021

Page last updated: 26 March 2021
Name of noticeFinancial Markets Conduct (AIA International Limited) Exemption Notice 2021
Gazette Notification Date2021-03-22
Date In Force2021-03-23
LI NumberN/A
ActFinancial Markets Conduct Act 2013
TypeIndividual Exemption Notice
Expiry Date2021-06-30

Summary: The Financial Markets Conduct (AIA International Limited) Exemption Notice 2021 provides relief to AIA International Limited from certain financial reporting and audit obligations of the FMC Act.

These exemptions are subject to conditions that require AIA International Limited to file audited single entity financial statements (in place of group financial statements) which are to be accompanied by New Zealand business financial statements. The main effects of the exemptions are as follows:

  • the financial statements that are prepared will comply with International Financial Reporting Standards rather than NZ GAAP
  • those financial statements will be audited by an auditor who is qualified under the laws of Hong Kong to perform the audit
  • financial statements for AIA International Limited will be accompanied by separate financial statements for the New Zealand business that comply with NZ GAAP
  • those New Zealand business financial statements will be audited by a qualified auditor in accordance with applicable New Zealand auditing and assurance standards