Securities Act (Calibre Asset Services Limited) Exemption Amendment Notice (No 2) 2005

  • expired
  • Securities Act (Calibre Asset Services Limited) Exemption Amendment Notice (No 2) 2005: expired, on 1 January 2009, pursuant to clause 3 of the Securities Act (Calibre Asset Services Limited) Exemption Notice 2004 (SR 2004/4).

Reprint
as at 1 January 2009

Securities Act (Calibre Asset Services Limited) Exemption Amendment Notice (No 2) 2005

(SR 2005/274)

  • Securities Act (Calibre Asset Services Limited) Exemption Amendment Notice (No 2) 2005: expired, on 1 January 2009, pursuant to clause 3 of the Securities Act (Calibre Asset Services Limited) Exemption Notice 2004 (SR 2004/4).


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 Interpretation
  • (1) Clause 4(1) of the principal notice is amended by inserting, after the definition of Act, the following definition:

    Australian unit trust means a unit trust—

    • (a) established under the laws of Australia; and

    • (b) governed by a trust deed entered into by Calibre and dated 18 August 2003 (as modified from time to time).

    (2) Clause 4(1) of the principal notice is amended by omitting from the definition of specified participatory securities the words listed in the Schedule.

4 Schedule revoked
  • The Schedule of the principal notice is revoked.

Dated at Wellington this 22nd day of September 2005.

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

[Seal]

J Diplock,
Chairperson.


Statement of reasons

This notice, which comes into force on the day after the date of its notification in the Gazette, amends the Securities Act (Calibre Asset Services Limited) Exemption Notice 2004 to extend the application of the principal notice to all unit trusts established by Calibre Asset Services Limited (Calibre) under the laws of Australia and governed by a trust deed dated 18 August 2003 (the trust deed).

The Securities Commission considers that the amendment to the principal notice is appropriate for the following reasons:

  • the principal notice is intended to allow units in certain Australian unit trusts to be offered to the public in New Zealand on terms similar to those applicable to units in New Zealand unit trusts offered to the public in New Zealand:

  • the amendment enables any Australian unit trust established by Calibre and governed by the trust deed to take advantage of the exemptions in the principal notice without the need for each individual unit trust to be expressly referred to in the principal notice. This amendment reduces compliance costs for Calibre and clarifies that the Commission does not assess or endorse individual unit trusts:

  • the Commission considers that the application of the exemption is limited sufficiently by its terms, which apply the exemption only to unit trusts established under the laws of Australia and governed by the trust deed.


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

Date of notification in Gazette: 29 September 2005.


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 (Calibre Asset Services Limited) Exemption Amendment Notice (No 2) 2005. It incorporates all the amendments to the notice as at 1 January 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.

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 (Calibre Asset Services Limited) Exemption Notice 2004 (SR 2004/4): clause 3