New Zealand Legislation: Acts

73 Exemption from Part 2 and Regulations for New Zealand offers under recognition regime

• (1) A provision of Part 2 or the Regulations does not apply to a security offered to a person in New Zealand if—

  • (a) a recognition regime set out in regulations made under section 74 applies to the security; and

  • (b) the recognition regime provides an exemption from that provision for the security; and

  • (c) the issuer of the security has opted into the recognition regime; and

  • (d) any other preconditions of the recognition regime are met.

  (2) For the purposes of subsection (1), an issuer opts into a recognition regime in respect of a security by notifying the Registrar—

  • (a) that an offer of the security is to be made under the recognition regime; and

  • (b) of the full name and address in New Zealand of 1 or more persons resident or incorporated in New Zealand who are authorised to accept service in New Zealand at that address of documents on behalf of the issuer.

  Section 73: substituted, on 1 December 2002, by section 26 of the Securities Amendment Act 2002 (2002 No 43).