Securities Act (Union Medical Benefits Society Limited) Exemption Notice 2002

  • expired
  • Securities Act (Union Medical Benefits Society Limited) Exemption Notice 2002: expired, on 1 October 2012, by clause 3.

Reprint
as at 1 October 2012

Securities Act (Union Medical Benefits Society Limited) Exemption Notice 2002

(SR 2002/287)

  • Securities Act (Union Medical Benefits Society Limited) Exemption Notice 2002: expired, on 1 October 2012, by clause 3.


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 by the Financial Markets Authority.


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

1 Title
  • This notice is the Securities Act (Union Medical Benefits Society Limited) Exemption Notice 2002.

2 Commencement
  • This notice comes into force on 1 October 2002.

3 Expiry
  • This notice expires on the close of 30 September 2012.

    Clause 3: amended, on 21 September 2007, by clause 3 of the Securities Act (Extension of Term, Amendment, and Revocation of Certain Exemptions) Exemption Notice 2007 (SR 2007/277).

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

    Act means the Securities Act 1978

    Regulations means the Securities Regulations 1983

    society means Union Medical Benefits Society Limited, a society registered under the Industrial and Provident Societies Act 1908

    specified participatory security means a share issued by the society for which the total amount payable (whether on issue or otherwise) does not exceed $2.

    (2) Any term or expression that is defined in the Act or the Regulations and used, but not defined, in this notice has the same meaning as in the Act or the Regulations.

5 Exemption
  • The society and every person acting on its behalf are exempted, in respect of any specified participatory security offered or allotted in connection with the provision of health insurance by the society to its members, from—

6 Conditions of exemption
  • The exemption in clause 5 is subject to the conditions that—

    • (a) No member of the society is allotted more than 1 specified participatory security; and

    • (b) the society's rules provide that a copy of the society's most recent audited financial statements are available, on request and free of charge, to every member of the society.

[Seal]

Dated at Wellington this 17th day of September 2002.

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

J Diplock,
Chairperson.


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

Date of notification in Gazette: 19 September 2002.


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 (Union Medical Benefits Society Limited) Exemption Notice 2002. The eprint incorporates all the amendments to the notice as at 1 October 2012. 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 that cannot be compiled in the eprint are also included, after the principal enactment, in chronological order.

2 About this eprint
3 List of amendments incorporated in this eprint (most recent first)
  • Securities Act (Union Medical Benefits Society Limited) Exemption Notice 2002 (SR 2002/287): clause 3

    Securities Act (Extension of Term, Amendment, and Revocation of Certain Exemptions) Exemption Notice 2007: clause 3