New Zealand Legislation: Acts

75 Matters that must be stated in regulations implementing recognition regime

• (1) The regulations made under section 74 must state—

  • (a) the country to which the recognition regime applies; and

  • (b) the classes of securities to which the recognition regime applies (whether by reference to type of issuer, offer, or any other matter); and

  • (c) the exemptions from provisions of Part 2 and the Regulations for those securities; and

  • (d) the preconditions that must be met for the recognition regime to apply, for example (without limitation), requiring specified information relating to the offer or securities to be provided to the Commission or Registrar; and

  • (e) the terms and conditions that must be complied with under the recognition regime, for example (without limitation), requiring—

    • (i) the offer of the securities to be made in accordance with specified provisions of the designated country's laws:

    • (ii) warnings to be given to investors so as to inform them that the offer of the securities is regulated under the designated country's laws and that New Zealand securities laws do not apply to the offer:

    • (iii) specified information relating to the offer or securities to be provided to the Commission or Registrar.

  (2) Regulations may provide different exemptions, preconditions, and terms and conditions for different classes of securities, offers, persons, or circumstances.

  Part 3 (comprising sections 71 to 76) was repealed, as from 1 December 2002, by section 27 Securities Amendment Act 2002 (2002 No 43).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 sections 71 to 90) was inserted, as from 1 December 2002, by section 26 Securities Amendment Act 2002 (2002 No 43).