Securities Act (WestpacTrust Investments Limited—NZ Class Shares) Exemption Notice (No 2) 1999

  • expired
  • Securities Act (WestpacTrust Investments Limited—NZ Class Shares) Exemption Notice (No 2) 1999: expired, on 2 September 2009, by clause 1(4).

Reprint
as at 2 September 2009

Securities Act (WestpacTrust Investments Limited—NZ Class Shares) Exemption Notice (No 2) 1999

(SR 1999/292)

  • Securities Act (WestpacTrust Investments Limited—NZ Class Shares) Exemption Notice (No 2) 1999: expired, on 2 September 2009, by clause 1(4).


Note

Changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in this eprint.

A general outline of these changes is set out in the notes at the end of this eprint, together with other explanatory material about this eprint.

This notice is administered in the Securities Commission.


Pursuant to the Securities Act 1978, the Securities Commission gives the following notice.

Notice

1 Title, commencement, and expiry
  • (1) This notice may be cited as the Securities Act (WestpacTrust Investments Limited—NZ Class Shares) Exemption Notice (No 2) 1999.

    (2) This notice comes into force on notification in the Gazette.

    (3) Part 1 of this notice expires on the close of 1 September 2004.

    (4) The rest of this notice expires on the close of 1 September 2009.

    Subclause 3 was substituted, as from 1 September 2004, by clause 3 Securities Act (WestpacTrust Investments Limited—NZ Class Shares) Exemption Notice (No 2) 1999 Amendment Notice 2004 (SR 2004/265).

    Subclause 4 was inserted, as from 1 September 2004, by clause 3 Securities Act (WestpacTrust Investments Limited—NZ Class Shares) Exemption Notice (No 2) 1999 Amendment Notice 2004 (SR 2004/265).

2 Interpretation
  • (1) In this notice, unless the context otherwise requires,—

    Act means the Securities Act 1978

    exchange deed means the deed entered into by Westpac under which NZ Class Shares may be exchanged for ordinary shares if an exchange event (within the meaning of the deed) occurs

    Schedule 1 means Schedule 1 of the Regulations

    group means WestpacTrust Investments and its related companies (within the meaning of section 2(3) of the Companies Act 1993)

    NZ Class Shares means shares in the capital of WestpacTrust Investments designated as NZ Class Shares

    ordinary shares means ordinary shares in the capital of Westpac designated as ordinary shares that may be exchanged for NZ Class Shares under the exchange deed

    registered holder means a person whose name is entered in the register of securities kept by WestpacTrust Investments under section 51 of the Act

    Regulations means the Securities Regulations 1983

    Westpac means Westpac Banking Corporation

    WestpacTrust Investments means WestpacTrust Investments Limited.

    (2) Any term or expression that is not defined in this notice, but that is defined in the Act or the Regulations, has the meaning given to it by the Act or the Regulations.

Part 1
Exemptions for NZ Class Shares

[Expired]

  • Part 1 (comprising cls 3 to 8) expired, as from the close of 1 September 2004, pursuant to clause 1(3) Securities Act (WestpacTrust Investments Limited—NZ Class Shares) Exemption Notice (No 2) 1999 (SR 1999/292).

3 Exemption from sections 33(1) and 37A of Act
  • [Expired]

    Part 1 (comprising cls 3 to 8) expired, as from the close of 1 September 2004, pursuant to clause 1(3) Securities Act (WestpacTrust Investments Limited—NZ Class Shares) Exemption Notice (No 2) 1999 (SR 1999/292).

4 Exemption from regulation 12(1)(a) and (c) of Regulations
  • [Expired]

    Part 1 (comprising cls 3 to 8) expired, as from the close of 1 September 2004, pursuant to clause 1(3) Securities Act (WestpacTrust Investments Limited—NZ Class Shares) Exemption Notice (No 2) 1999 (SR 1999/292).

5 Exemption from regulation 23 of Regulations
  • [Expired]

    Part 1 (comprising cls 3 to 8) expired, as from the close of 1 September 2004, pursuant to clause 1(3) Securities Act (WestpacTrust Investments Limited—NZ Class Shares) Exemption Notice (No 2) 1999 (SR 1999/292).

6 Exemption from clause 1(4) of Schedule 1 of Regulations
  • [Expired]

    Part 1 (comprising cls 3 to 8) expired, as from the close of 1 September 2004, pursuant to clause 1(3) Securities Act (WestpacTrust Investments Limited—NZ Class Shares) Exemption Notice (No 2) 1999 (SR 1999/292).

7 Exemption from clause 10(1)(c) of Schedule 1 of Regulations
  • [Expired]

    Part 1 (comprising cls 3 to 8) expired, as from the close of 1 September 2004, pursuant to clause 1(3) Securities Act (WestpacTrust Investments Limited—NZ Class Shares) Exemption Notice (No 2) 1999 (SR 1999/292).

8 Exemption from clause 16(2)(h) and (i) of Schedule 1 of Regulations
  • [Expired]

    Part 1 (comprising cls 3 to 8) expired, as from the close of 1 September 2004, pursuant to clause 1(3) Securities Act (WestpacTrust Investments Limited—NZ Class Shares) Exemption Notice (No 2) 1999 (SR 1999/292).

Part 2
Exemptions for Westpac shares

9 Exemption from sections 37 and 37A of Act
  • (1) Westpac and every person acting on its behalf are exempted from sections 37 and 37A of the Act in respect of ordinary shares.

    (2) The exemption is subject to the condition that the NZ Class Shares are allotted in accordance with a registered prospectus that contains particulars of all material matters relating to the ordinary shares.

    (3) The exemption is subject to the further condition that the registered prospectus and investment statement relating to the NZ Class Shares state—

    • (a) that the following information will be sent, in every calendar year, to each registered holder of NZ Class Shares:

      • (i) a summary of the principal terms on which the NZ Class Shares have been allotted; and

      • (ii) a summary of the relationship of the NZ Class Shares with the ordinary shares; and

      • (iii) a summary of the principal terms of the exchange deed; and

      • (iv) a reference to the registered prospectus in accordance with which the NZ Class Shares were allotted; and

      • (v) a statement that the registered prospectus, in accordance with which the NZ Class Shares were allotted, can be inspected at the office of the Registrar of Companies, and specifying the address of the office; and

    • (b) that Westpac will send to each registered holder of NZ Class Shares,—

      • (i) a copy of Westpac's concise annual report or, if the registered holder requests it, a copy of the full annual report; and

      • (ii) all other reports, communications, and material sent to holders of ordinary shares, but excluding voting proxy forms and other material relating to voting matters; and

      • (iii) without limiting subparagraph (ii), all financial information required under Australian law to be provided to the holders of ordinary shares; and

    • (c) that the information referred to in paragraph (b) will be sent no later than 1 working day after it is sent to registered holders of ordinary shares in Australia; and

    • (d) that, within 10 working days of a request from the holder, Westpac will provide to each registered holder of NZ Class Shares, a copy of Westpac's most recent audited financial statements; and

    • (e) that each registered holder of NZ Class Shares will be informed at least once a year of the right to request the financial statements referred to in paragraph (d); and

    • (f) that information given to the Australian Stock Exchange by Westpac will be given to the New Zealand Stock Exchange at the same time and will be made public in Australia and New Zealand on the date on which it is given to the Australian Stock Exchange.

    (4) The exemption is subject to the further condition that the investment statement relating to the issue of NZ Class Shares contains a description of the principal risks assumed by the registered holders of the NZ Class Shares, including any risk that an exchange of the NZ Class Shares for ordinary shares may not proceed even though an exchange event (within the meaning of the exchange deed) occurs.

Dated at Wellington this 2nd day of September 1999.

The Common Seal of the Securities Commission was affixed in the presence of:

[Seal]

E H Abernethy,
Chairman.


Issued under the authority of the Acts and Regulations Publication Act 1989.

Date of notification in Gazette: 3 September 1999.


Contents

  • 1General

  • 2About this eprint

  • 3List of amendments incorporated in this eprint (most recent first)


Notes
1 General
  • This is an eprint of the Securities Act (WestpacTrust Investments Limited—NZ Class Shares) Exemption Notice (No 2) 1999. It incorporates all the amendments to the notice as at 2 September 2009. The list of amendments at the end of these notes specifies all the amendments incorporated into this eprint since 3 September 2007.

    Relevant provisions of any amending enactments that contain transitional, savings, or application provisions are also included, after the principal enactment, in chronological order. For more information, see http://www.pco.parliament.govt.nz/reprints/.

2 About this eprint
  • This eprint has not been officialised. For more information about officialisation, please see Making online legislation official under Status of legislation on this site in the About section of this website.

3 List of amendments incorporated in this eprint (most recent first)
  • Securities Act (WestpacTrust Investments Limited—NZ Class Shares) Exemption Notice (No 2) 1999 (SR 1999/292): clause 1(4)