New Zealand Legislation: Acts

4 Meaning of issuer

• (1) In this Act, issuer means—

  • (a) every person who has, whether before or after the commencement of this Act, allotted securities pursuant to—

    • (i) an offer for which, or for which but for an exemption granted by the FMA or the Securities Commission under the Securities Act 1978, an investment statement or a registered prospectus, or both, is or was required under that Act (other than an offer of a unit in a unit trust or an interest in a KiwiSaver scheme other than a restricted scheme); or

    • (ii) an offer required to be contained in a prospectus required to be registered under the Companies Act 1955,—

    whether or not the securities allotted are securities of the same type as the securities offered:

  • (ab) every manager of a KiwiSaver scheme other than a restricted scheme (within the meaning of the KiwiSaver Act 2006) in which securities have been allotted, whether before or after the commencement of this paragraph, pursuant to an offer of securities to the public within the meaning of the Securities Act 1978:

  • (b) every manager of a unit trust (within the meaning of section 2 of the Unit Trusts Act 1960) in which securities have been allotted, whether before or after the commencement of this Act, pursuant to an offer of securities to the public within the meaning of the Securities Act 1978:

  • (ba) every recipient of money from a conduit issuer (within the meaning of section 4A):

  • (c) every person who is a party to a listing agreement with a stock exchange in New Zealand and who has issued securities which are quoted on such an exchange:

  • (d) every insurer to whom Part 10 of the Accident Compensation Act 2001 applies:

  • (da) every licensed insurer (other than a Lloyd's underwriter within the meaning of the Insurance (Prudential Supervision) Act 2010 or an insurer that is included in a class of insurers that is the subject of an exemption under section 238(1)(b) of that Act):

  • (e) every operator within the meaning of the Retirement Villages Act 2003 (other than a receiver or liquidator, or a person who has no financial interest in the village).

  (2) Every registered bank (within the meaning of section 2(1) of the Reserve Bank of New Zealand Act 1989) that has allotted securities to the public within the meaning of the Securities Act 1978 is an issuer for the purposes of this Act.

  (3) In this section references to securities that have been issued or allotted are to be taken as references to securities that have not been cancelled, redeemed, forfeited, or in respect of which obligations owing under them have not been discharged.

  (4) Subsection (2) shall come into force on a date to be appointed by the Governor-General by Order in Council.

  Section 4(1): substituted, on 1 October 1997, by section 3 of the Financial Reporting Amendment Act (No 2) 1996 (1996 No 103).

  Section 4(1)(a)(i): amended, on 1 May 2011, by section 56 of the KiwiSaver Amendment Act 2011 (2011 No 8).

  Section 4(1)(a)(i): amended, on 1 May 2011, by section 82 of the Financial Markets Authority Act 2011 (2011 No 5).

  Section 4(1)(ab): inserted, on 1 May 2011, by section 56 of the KiwiSaver Amendment Act 2011 (2011 No 8).

  Section 4(1)(ba): inserted, on 11 August 2007, by section 5 of the Financial Reporting Amendment Act 2006 (2006 No 64).

  Section 4(1)(d): substituted, on 1 April 2002, by section 337(1) of the Injury Prevention, Rehabilitation, and Compensation Act 2001 (2001 No 49).

  Section 4(1)(d): amended on 3 March 2010, pursuant to section 5(1)(b) of the Accident Compensation Amendment Act 2010 (2010 No 1).

  Section 4(1)(da): inserted, on 1 February 2011, by section 241(2) of the Insurance (Prudential Supervision) Act 2010 (2010 No 111).

  Section 4(1)(e): added, on 1 May 2007, by section 109(1) of the Retirement Villages Act 2003 (2003 No 112).