Securities Act (WestpacTrust Investments Limited NZ Class Shares) Exemption Notice (No 2) 1999 Amendment Notice 2004

  • expired
  • Securities Act (WestpacTrust Investments Limited NZ Class Shares) Exemption Notice (No 2) 1999 Amendment Notice 2004: expired, on 2 September 2009, pursuant to clause 1(4) of the Securities Act (WestpacTrust Investments Limited—NZ Class Shares) Exemption Notice (No 2) 1999 (SR 1999/292).

Reprint
as at 2 September 2009

Securities Act (WestpacTrust Investments Limited NZ Class Shares) Exemption Notice (No 2) 1999 Amendment Notice 2004

(SR 2004/265)

  • Securities Act (WestpacTrust Investments Limited NZ Class Shares) Exemption Notice (No 2) 1999 Amendment Notice 2004: expired, on 2 September 2009, pursuant to clause 1(4) of the Securities Act (WestpacTrust Investments Limited—NZ Class Shares) Exemption Notice (No 2) 1999 (SR 1999/292).


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 Securities Commission.


Pursuant to the Securities Act 1978, the Securities Commission gives the following notice (to which is appended a statement of reasons of the Securities Commission).

1 Title
2 Commencement
  • This notice comes into force on the day after the date of its notification in the Gazette.

3 Clause 1(3) of principal notice amended
  • Clause 1 of the principal notice is amended by revoking subclause (3), and substituting the following subclauses:

    • (3) Part 1 of this notice expires on the close of 1 September 2004.

    • (4) The rest of this notice expires on the close of 1 September 2009.

Dated at Wellington this 26th day of August 2004.

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

J Diplock,

Chairperson.

[LS]


Statement of reasons

This notice, which comes into force on the day after the date of its notification in the Gazette, extends the expiry date of the Securities Act (WestpacTrust Investments Limited—NZ Class Shares) Exemption Notice (No 2) 1999 ( the principal notice) to 1 September 2009, except for Part 1 of the principal notice. The original expiry date of 1 September 2004 is unchanged in relation to Part 1.

The Securities Commission considers that it is appropriate to grant the extension because

  • Part 2 of the principal notice relieves Westpac Banking Corporation (Westpac) from the requirement to have a registered prospectus and investment statement if Westpac's NZ Class Shares are exchanged for Westpac ordinary shares. The circumstances under which this may occur are set out in an exchange deed entered into by Westpac before the initial offer of the NZ Class Shares. This deed remains in force and the exemption in clause 9 of the principal notice is still required.

  • The original exemption was granted subject to conditions requiring that the registered prospectus for the NZ Class Shares contained all material information about the Westpac ordinary shares. Extra information relevant to the NZ Class Shares, the exchange right, and Westpac itself must be sent to the holders of NZ Class Shares every year. This provides investors in the NZ Class Shares with information about their rights and about the shares that they will receive if an exchange occurs.


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

Date of notification in Gazette: 31 August 2004.


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 (WestpacTrust Investments Limited NZ Class Shares) Exemption Notice (No 2) 1999 Amendment Notice 2004. It incorporates all the amendments to the notice as at 2 September 2009. The list of amendments at the end of these notes specifies all the amendments incorporated into this eprint since 4 September 2007.

    Relevant provisions of any amending enactments that contain transitional, savings, or application provisions are also included, after the principal enactment, in chronological order. For more information, see http://www.pco.parliament.govt.nz/reprints/.

2 About this eprint
  • This eprint has not been officialised. For more information about officialisation, please see Making online legislation official under Status of legislation on this site in the About section of this website.

3 List of amendments incorporated in this eprint (most recent first)
  • Securities Act (WestpacTrust Investments Limited—NZ Class Shares) Exemption Notice (No 2) 1999 (SR 1999/292): clause 1(4)


  • 1 SR 1999/292