New Zealand Legislation: Regulations

8 Condition of exemptions for specified securities and savings scheme securities that other disclosure made

• (1) The exemptions in clauses 5 and 6 from sections 37, 37A, 38A, 54A, and 54B of the Act are subject to the further condition that the person to whom the offer is made has received, before subscribing for the specified security or the savings scheme security (as the case may be),—

  • (a) an English version or English translation of the following information (which may be in 1 or more documents):

    • (i) the most recent annual report of the issuer of the security subscribed for; and

    • (ii) the most recent published financial statements of the issuer of the security subscribed for; and

    • (iii) the current rules of the employee share purchase scheme or a summary of those rules; and

    • (iv) the terms of the offer in New Zealand; or

  • (b) a notice stating—

    • (i) that the information described in paragraph (a) is available on an Internet or intranet site operated by or on behalf of the issuer; and

    • (ii) the address of that Internet or intranet site; and

    • (iii) that the information will be sent, without fee, to the person to whom the offer is made on request, and how and to whom that request may be made.

  (2) The exemptions in clauses 5 and 6 are subject to the further condition that the information described in paragraph (a) is received by the Registrar of Companies before the date of allotment.