New Zealand Acts

KIWISAVER AMENDMENT ACT 2011 - SECT 18

18 New section 123 substituted

Section 123 is repealed and the following section substituted:

123 Requirement for annual report

1 The trustees (in the case of a restricted KiwiSaver scheme) or the manager (in the case of any other KiwiSaver scheme) must, within 5 months after the end of each financial year, prepare a report on the scheme for that year.

2 In the case of a KiwiSaver scheme other than a restricted scheme, the manager must consult the trustee about the annual report.

3 The annual report must contain, or have attached to it, the prescribed information, statements, certificates, and documents.

4 The trustees or the manager (as the case may be) must, within 28 days after the annual report is completed, send to the FMA a copy of the completed report and, if not already contained in or attached to the report, a copy of the annual financial statements.