New Zealand Legislation: Regulations

22 Exemption for directors or officers of overseas listed public issuers

• (1) A director or officer of an overseas listed public issuer who has, or who acquires or disposes of, a relevant interest in a security of that overseas listed public issuer does not have to disclose that fact under section 19T of the Act.

  (2) A director or officer of an overseas listed public issuer who has, or who acquires or disposes of, a relevant interest in a security of a related body corporate of that overseas listed public issuer does not have to disclose that fact under section 19T of the Act unless—

  • (a) that person is also a director or officer of the related body corporate; and

  • (b) the related body corporate is a public issuer, but not an overseas listed public issuer.

  (3) In this regulation, overseas listed public issuer means a public issuer whose securities are also listed with a securities exchange that—

  • (a) is not a New Zealand registered exchange; and

  • (b) has sole primary jurisdiction for the listing requirements for the public issuer and the quotation of its securities.

  Regulation 22: added, on 3 May 2004, by regulation 8 of the Securities Markets (Disclosure of Relevant Interests by Directors and Officers) Amendment Regulations (No 2) 2004 (SR 2004/90).