New Zealand Legislation: Acts

79 Matters that must be stated in regulations implementing application regime

• (1) The regulations made under section 78 must state—

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

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

  • (c) the provisions of Part 2 and the Regulations that apply to those securities; and

  • (d) whether or not, or the extent to which, exemptions from those provisions granted by the FMA under section 70B may also apply for those securities; and

  • (e) the preconditions (if any) that must be met for the application regime to apply; and

  • (f) the terms and conditions (if any) that must be complied with under the application regime.

  (2) The regulations may provide different applications of provisions, preconditions, and terms and conditions for different classes of securities, offers, persons, or circumstances.

  Section 79: added, on 1 December 2002, by section 26 of the Securities Amendment Act 2002 (2002 No 43).

  Section 79(1)(d): substituted, on 1 May 2011, by section 47 of the Securities Amendment Act 2011 (2011 No 6).