New Zealand Legislation: Acts
Acts are laws made by Parliament
(1) In this Act, unless the context otherwise requires, advertisement means a form of communication—
(a) that—
(i) contains or refers to an offer of securities to the public for subscription; or
(ii) is reasonably likely to induce persons to subscribe for securities of an issuer, being securities to which the communication relates and that have been, or are to be, offered to the public for subscription; and
(b) that is authorised or instigated by, or on behalf of, the issuer of the securities or prepared with the co-operation of, or by arrangement with, the issuer of the securities; and
(c) that is to be, or has been, distributed to a person.
(2) The following are also advertisements:
(a) a statement relating to an interest in a contributory mortgage required to be distributed to a person by regulations:
(b) an investment statement:
(c) documents, information, and other matters required to be made publicly available under section 54C.
(3) None of the following is an advertisement:
(a) a registered prospectus:
(b) [Repealed]
(c) a statement or report made in accordance with section 3(7):
(d) a disclosure statement published by a registered bank under section 81 of the Reserve Bank of New Zealand Act 1989.
(4) A communication is an advertisement whether or not consideration is to be, or has been, paid for the distribution of the communication.
(5) The definition of the term advertisement in this section does not apply to the term advertisement in section 3(1)(c).
(6) Where—
(a) an advertisement within the meaning of this section appears in association with another advertisement that is not an advertisement within the meaning of this section; and
(b) both advertisements are authorised or instigated by, or on behalf of, the same person or prepared with the co-operation of, or by arrangement with, the same person,—
those advertisements are deemed to be a single advertisement within the meaning of this section.
(7) Unless this Act or regulations provide otherwise, nothing in this Act or regulations limits the information, statements, and other matters that may be contained in an advertisement.
Section 2A: inserted, on 1 October 1997, by section 4 of the Securities Amendment Act 1996 (1996 No 100).
Section 2A(2)(c): added, on 1 May 2011, by section 6 of the Securities Amendment Act 2011 (2011 No 6).
Section 2A(3)(b): repealed, on 15 April 2004, by section 4 of the Securities Amendment Act 2004 (2004 No 31).
