Securities Act 1978 No 103 (as at 01 October 2011), Public Act

36A Subscriptions must be held in trust
  • An issuer must ensure that subscriptions for securities offered to the public are held in trust for the subscribers until the securities are allotted or until the subscriptions are repaid to the subscribers under this Act.

    Section 36A: inserted, on 15 April 2004, by section 10 of the Securities Amendment Act 2004 (2004 No 31).