You will need to email the following information to compliance@fma.govt.nz with the subject line ‘Levy waiver application’.
- Name of person or entity applying for the waiver.
- Contact person for correspondence concerning the application including address, phone number and email.
- Indicate the persons/entity who will receive the benefit of any waiver granted.
- Specify which class(es) you seek a waiver from and whether a waiver is sought from the full levy or part and the amount thereof.
- Let us know your preferred date for any waiver to take effect.
- Explain why the waiver should be granted and why your circumstances are exceptional when compared with others in the same class.
- Provide all relevant facts in support of your application.
- Explain any regulatory benefit of FMA granting the waiver.
- Give details of any previous contact with officials (including their names) at FMA or MBIE (including the Companies Office) on the matter.
How to pay your waiver application fee
You can pay by electronic deposit or internet banking. Payment can be made by applicants or law firms making applications on behalf of their clients.
The person paying the application fee must be the person who pays the subsequent fees and costs. For example, if a law firm pays the application fee, that law firm must also pay any additional fees and costs.
We recommend if law firms apply for waivers on behalf of their clients, the parties discuss and agree who will be responsible for paying the FMA’s fees before submitting a waiver application.
| Payment option |
How to pay |
Additional information |
| Electronic deposit or internet banking |
Where bill pay is available please select ‘Financial Markets Authority - Other'
Otherwise, our bank details are:
Bank: Westpac
Account name: Financial Markets Authority
Account number: 03-0584-0198005-000 |
To ensure we process your payment correctly please provide the following information:
Particulars: Payer’s name*
Code: Waiver
Reference: Applicant’s name
You do not need to forward a hard copy of your application if paying electronically |
* This is the name of the person paying the application fee. This person will be invoiced for any subsequent fees and costs. Payment by credit card is not available for this application process.
What are the fees
- A payment of $1,265 should accompany each application.
- This covers the application fee of $115 set out in the Financial Markets Authority (Fees) Regulations 2011 and an advance of $1,150 (including GST) for fees and costs to be incurred.
- These regulations set out charging rates of $230 (including GST) per hour for time spent by FMA Board members and $178.25 (including GST) per hour for time spent by FMA staff.
- These regulations are set by MBIE.
How long does it take
- Once we have been provided with all relevant information, it generally takes around six weeks to process an application.
- This may be longer if any policy questions arise.
- If your application is urgent, please provide the date you need the decision by.
- You must also provide reasons for requesting urgent consideration.
