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# Article 1

**Commission Implementing Decision (EU) 2016/2274 · binding on its addressees · dated 15 Dec 2016 [in force]**

*In force · Commission Implementing Decision (EU) 2016/2274, OJ L 342, 16.12.2016 · Checked against EUR-Lex on 26 Oct 2026 · [Official source](https://eur-lex.europa.eu/eli/dec_impl/2016/2274/oj/eng)*

For the purposes of paragraph 6 of [Article 25](../../articles/25.md) of Regulation (EU) No 648/2012, the legal and supervisory arrangements of New Zealand consisting of Part 5C of the the Reserve Bank of New Zealand Act 1989, as complemented by the policy statement ‘The Designation and Oversight of Designated Settlement Systems’ requiring designated settlement systems to comply with the PFMIs, and applicable to designated settlement systems shall be considered to be equivalent to the requirements laid down in Regulation (EU) No 648/2012.