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CP 21 Approval of codes

Released 6 June 2001. Comment closed 5 July 2001.

This paper sets out how ÷ÈÓ°Ö±²¥ proposes to approach its discretion to approve codes of conduct under 1101A of the Financial Services Reform Bill 2001 (the Bill).

The paper provides:

  • an outline of ÷ÈÓ°Ö±²¥â€™s codes approval power, including what we will treat as a code, and the circumstances in which approval can be sought (Section A);
  • details of the statutory criteria for code approval, and how ÷ÈÓ°Ö±²¥ proposes to interpret and apply these criteria (Section B);
  • details of other criteria that ÷ÈÓ°Ö±²¥ will consider when approving a code, and how ÷ÈÓ°Ö±²¥ proposes to interpret and apply these criteria (Section C);
  • information on how to meet the statutory and other criteria in the case of a new code, an already operating but unapproved code, and an amended code that had previously been approved (Section D);
  • information on retaining approved status and on when code approvals will be revoked (Section E); and
  • a brief description of the regulatory framework within which codes sit (Section F).

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Last updated: 06/06/2001 12:00