New Zealand Legislation: Acts

74 Power to exempt from Part 2 and Regulations under recognition regime

• (1) The Governor-General may, by Order in Council made on the recommendation of the Minister, make regulations, for the purpose of implementing a recognition regime for a designated country, that provide for—

  • (a) exemptions from provisions of Part 2 and the Regulations; and

  • (b) the other matters set out in section 75.

  (2) The Minister may recommend making an Order in Council under this section only—

  • (a) if he or she is satisfied that it is in the public interest after having regard to—

    • (i) the securities laws of the designated country; and

    • (ii) the interests of New Zealand investors; and

  • (b) after consulting with the Commission.

  The original Part 3 (relating to amendments to other Acts; and comprising sections 71 to 76) was repealed, as from 1 December 2002, by section 27 Securities Amendment Act 2002 (2002 No 43).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