New Zealand Legislation: Regulations
Regulations are laws made under Acts
(1) No advertisement shall refer to any debt securities (other than securities the issuer of which is the Crown) without also stating either that the securities are unsecured or the nature and ranking in point of security of the securities.
(2) An advertisement shall not state or imply that participatory securities are secured, other than by use of the word “secured”
accompanied by a statement of the nature and ranking in point of security of the securities.