Securities Act (GH Emerging Markets Fund Limited) Exemption Amendment Notice 2007

  • expired
  • Securities Act (GH Emerging Markets Fund Limited) Exemption Amendment Notice 2007: expired, on 2 October 2011, pursuant to clause 3 of the Securities Act (GH Emerging Markets Fund Limited) Exemption Notice 2006 (SR 2006/316).

Reprint
as at 2 October 2011

Securities Act (GH Emerging Markets Fund Limited) Exemption Amendment Notice 2007

(SR 2007/90)

  • Securities Act (GH Emerging Markets Fund Limited) Exemption Amendment Notice 2007: expired, on 2 October 2011, pursuant to clause 3 of the Securities Act (GH Emerging Markets Fund Limited) Exemption Notice 2006 (SR 2006/316).


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
  • This notice is the Securities Act (GH Emerging Markets Fund Limited) Exemption Amendment Notice 2007.

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

3 Principal notice amended
4 Interpretation
  • The definition of specified securities in clause 4(1) is amended by omitting in a prospectus that is to be registered on or about 1 November 2006.

Dated at Wellington this 30th day of March 2007. The Common Seal of the Securities Commission was affixed in the presence of:

CAN Beyer,

Member.

[Seal]


Statement of reasons

This notice, which comes into force on the day after its notification in the Gazette, amends the Securities Act (GH Emerging Markets Fund Limited) Exemption Notice 2006 (the principal notice).

The principal notice exempts GH Emerging Markets Fund Limited, subject to conditions, from clause 1(4) of Schedule 1 of the Securities Regulations 1983 in relation to an offer of its preference shares.

The Securities Commission granted the principal notice because the price of the shares is unable to be determined at the time they are offered (due to the nature of the offer). Among other things, the conditions of the exemption require that investors receive (in a registered prospectus relating to the offer of the shares) certain relevant information about the pricing mechanism for the shares.

This amendment notice removes the reference in the principal notice to a specific prospectus dated on or about 1 November 2006.

The Securities Commission considers that it is appropriate to make the amendment because—

  • the reasons for the principal notice still exist; and

  • as the fund intends to remain open continuously, it needs to be able to register new prospectuses in reliance on the principal notice. The amendment means that the fund will not need to continually reapply for exemptions.


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

Date of notification in Gazette: 5 April 2007.


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 (GH Emerging Markets Fund Limited) Exemption Amendment Notice 2007. The eprint incorporates all the amendments to the notice as at 2 October 2011. The list of amendments at the end of these notes specifies all the amendments incorporated into this eprint since 3 September 2007.

    Relevant provisions of any amending enactments that contain transitional, savings, or application provisions that cannot be compiled in the eprint are also included, after the principal enactment, in chronological order.

2 About this eprint
3 List of amendments incorporated in this eprint (most recent first)
  • Securities Act (GH Emerging Markets Fund Limited) Exemption Notice 2006 (SR 2006/316): clause 3