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New Zealand Legislation: Regulations

Regulations are laws made under Acts

Reprint as at 9 October 2008

Securities Markets (Disclosure of Relevant Interests by Directors and Officers) Regulations 2003

(SR 2003/382)

Dame Sian Elias, Administrator of the Government

Order in Council

At Wellington this 15th day of December 2003

Present:
Her Excellency the Administrator of the Government in Council

Note

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

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

These regulations are administered by the Ministry of Economic Development.

Pursuant to section 49 of the Securities Markets Act 1988, Her Excellency the Administrator of the Government, acting on the advice and with the consent of the Executive Council and on the recommendation of the Minister of Commerce (made after consulting with the Securities Commission), makes the following regulations.

Contents

3 Interpretation

Definition of officer for disclosure purposes

4 Persons who are not officers

Form and method of disclosure of relevant interests

5 Directors and officers must complete disclosure notice

6 Information required to be given in disclosure notice [Revoked]

Initial disclosure under section 19T(1) of Act

6A Nature of relevant interests and name in which security is registered

6B Number, class, and type of securities

6C Date of disclosure obligation in relation to relevant interest

Ongoing disclosure under section 19T(2) of Act

7 Nature of relevant interests and name in which security is registered

8 Number, class, and type of securities

9 Date of acquisition or disposal of relevant interest

10 Consideration for relevant interest

11 Description of acquisition or disposal of relevant interest

12 Aggregation of multiple transactions in disclosure notice

13 Date of last disclosure of relevant interest

Further requirements of disclosure notices for both initial disclosure and ongoing disclosure under section 19T of Act

14 Disclosure notice must be signed

15 Persons to whom disclosure notice must be given

16 Method by which disclosure notice must be given

17 Deviations from, and electronic form of, disclosure notice

Exemptions to directors’ and officers’ disclosure regime

18 Exemption from 5 trading day requirement for ongoing offers

19 Exemption for relevant interests that are merely technical interests [Revoked]

20 Exemption from 5 trading day requirement for employee share schemes

21 Exemption for directors or officers who disclose substantial holdings

22 Exemption for directors or officers of overseas listed public issuers

23 Temporary exemption for directors or officers of dual primary listed public issuers [Revoked]

Gazette information

Regulations