ACTIn ForceAct
Building Act 2004
100Approved scheme—conditions
Start here
Get a plain-English read of 100
Turn the raw legal text into a practical explanation grounded in Building Act 2004.
100 Approved scheme—conditions
(1) A fidelity fund scheme’s approval is subject to the following
conditions:
(a) the approved scheme must continue to comply with the approval
criteria;
(b) the trustees of the approved scheme must tell the Minister, in
writing, if there is a material change to the way in which the
approved scheme complies with the approval criteria;
(c) a condition prescribed by regulation;
(d) any other condition the Minister considers appropriate.
(2) A condition may be expressed to have effect despite anything in the
prudential standards.
(3) The trustees of an approved scheme each commit an offence if the
scheme does not comply with a condition mentioned in
subsection (1).