• Accounting Alert August 2022

FMA class exemptions for the small co-operatives and irrigation companies

The financial Markets Authority (FMA) have announced that they have decided to extend relief for small co-operatives and irrigation companies for a further 5-year period on the following terms:

  • Continue the ability for irrigation companies to use the same tailored Product Disclosure Statement relief as registered co-operative companies.
  • Increase the small aggregate investment threshold from $5,000 to $10,000 (which exempts from certain disclosure, governance, and FMC financial reporting obligations).
  • Increase the low revenue investment threshold from $2 million to $5 million (which exempts from FMC financial reporting obligations).

The current small co-operatives notice expires on 31 December 2022 and the current irrigation companies notice expires on 22 December 2022.

For more information hereon, please refer to the FMA’s website here.


For more on the above, please contact your local BDO representative.

This publication has been carefully prepared, but is general commentary only. This publication is not legal or financial advice and should not be relied upon as such. The information in this publication is subject to change at any time and therefore we give no assurance or warranty that the information is current when read. The publication cannot be relied upon to cover any specific situation and you should not act, or refrain from acting, upon the information contained therein without obtaining specific professional advice. Please contact the BDO member firms in New Zealand to discuss these matters in the context of your particular circumstances.
BDO New Zealand and each BDO member firm in New Zealand, their partners and/or directors, employees and agents do not give any warranty as to the accuracy, reliability or completeness of information contained in this article nor do they accept or assume any liability or duty of care for any loss arising from any action taken or not taken by anyone in reliance on the information in this publication or for any decision based on it, except in so far as any liability under statute cannot be excluded. Read full Disclaimer.