A provision of Part 2 or the Regulations applies to a security that is offered to a person outside New Zealand if—
(a) an application regime set out in regulations made under section 78 applies to the security; and
(b) the application regime applies that provision to the security; and
(c) any other preconditions of the application regime are met.
Section 77: added, on 1 December 2002, by section 26 of the Securities Amendment Act 2002 (2002 No 43).