New Zealand Legislation: Regulations
Regulations are laws made under Acts
The information document referred to in clauses 6 and 7 must contain the following:
(a) a prominent statement at the front of the document in the following form:
| “Important Notice |
|---|
| Prospective investors are advised that [name of specified body], in making this offer of securities, is not subject to the normal requirements to have a registered prospectus and an investment statement under the Securities Act 1978. This is because the Securities Commission has granted a general exemption from those requirements to all charitable organisations. The Securities Commission has not examined or approved this particular offer. |
| Accordingly, the risks associated with this investment may not be as fully disclosed in this document as they would be in an investment statement and registered prospectus. |
| The Securities Commission granted the general exemption on the basis that prospective investors in charitable organisations are not necessarily seeking a commercial return, but instead wish to support the [charitable/religious] purposes of the charitable organisation. The particular [charitable/religious] purposes of [name of specified body] are discussed in this document. |
| If the return sought is important to you, you should consider seeking investment advice.”; and |
(c) a description of the charitable or religious purposes for which the money paid by subscribers will be used; and
(d) the terms and conditions of the offer of the security; and
(e) any other information that is material to the offer of the security; and
(f) a statement that it is a term of the offer of the debt securities that, on the request of the offeree, the charitable organisation must send, or cause to be sent, without fee and within 5 working days of receiving the request, to that offeree a copy of the most recent audited financial statements of the organisation that comply with the Financial Reporting Act 1993.
