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.

  The original section 73 was repealed, as from 6 December 1983, by section 26(g) Companies Amendment Act (No 2) 1983 (No 53).

  The original Part 3 (relating to amendments to other Acts; and comprising sections 71 to 76) was repealed, as from 1 December 2002, by section 27 Securities Amendment Act 2002 (2002 No 43).

  Part 5 (comprising new sections 71 to 90) was inserted, as from 1 December 2002, by section 26 Securities Amendment Act 2002 (2002 No 43).