Financial Market Infrastructures Act Designation Notice (HVCS) 2026

Financial Market Infrastructures Act Designation Notice (HVCS) 2026 Title

1. This is the Financial Market Infrastructures Act Designation Notice (HVCS) 2026.
   Effective Date
2. This notice comes into effect on 12 October 2026.
   Authority
3. This notice is issued under section 20 of the Financial Market Infrastructures Act 2021 (the
   “Act”) by the Minister of Finance and has legal effect.
   Interpretation
4. In this notice:
   (a) references to “FMI” are references to the High Value Clearing System; (b) “High Value Clearing System” means the high value clearing system operated and managed by, or on behalf of Payments NZ Limited; and (c) any term that is defined in the Act and used, but not defined, in this notice has the meaning as in the Act. Designation
5. The High Value Clearing System is declared to be a designated FMI.
   Operator
6. Payments NZ Limited is the operator of the FMI.
   Documents that set out the rules
7. The documents that set out the FMI’s rules are:
   (a) The following parts of the Payments NZ Rules dated 1 October 2010 (in whatever amended version that is in effect at any given time after the effective date of this designation notice):
   i. Part 1 (excluding 1.2.1-2)
   ii. Part 2 (excluding 2.12, 2.14, 2.14A, 2.14B, 2.40-2.46, 2.48, 2.53)
   iii. Part 4 (excluding 4.15, 4.17)
   iv. Part 5 (excluding 5.7)
   v. Part 9
   vi. Part 10 (excluding 10.6)
   vii. Part 11 and 11A
   viii. Part 12 (excluding 12.7-12.10, 12.17)
   ix. Part 12A (excluding 12A.21)
   x. Part 13