New Zealand Legislation: Regulations

5 Interpretation

• (1) In this notice, unless the context otherwise requires,—

  Act means the Financial Reporting Act 1993

  exempt issuer means an issuer that—

  • (a) is incorporated in a specified jurisdiction; and

  • (b) has specified financial statements prepared in respect of it; and

  • (c) has offered or offers securities to the public in New Zealand in reliance on—

    • (i) the Securities Act (Overseas Companies) Exemption Notice 1983; or

    • (ii) the Securities Act (Overseas Companies) Exemption Notice 1984; or

    • (iii) the Securities Act (Overseas Companies) Exemption Notice 1986; or

    • (iv) the Securities Act (Overseas Companies) Exemption Notice (No 2) 1986; or

    • (v) the Securities Act (Overseas Companies) Exemption Notice 1993; or

    • (vi) the Securities Act (Overseas Companies) Exemption Notice 1995; or

    • (vii) the Securities Act (Overseas Companies) Exemption Notice 1997; or

    • (viii) the Securities Act (Overseas Companies) Exemption Notice 2002 (or a notice that, with or without modification, replaces or corresponds to that notice); and

  • (d) has not offered and does not offer securities to the public in New Zealand otherwise than in reliance on 1 or more of the notices referred to in paragraph (c)

  International Financial Reporting Standards means—

  • (a) International Financial Reporting Standards and International Accounting Standards that have been issued or adopted by the International Accounting Standards Board in accordance with the constitution of the International Accounting Standards Committee Foundation; and

  • (b) final interpretations by the International Financial Reporting Interpretations Committee approved by the International Accounting Standards Board in accordance with that constitution

  overseas GAAP, in relation to an exempt issuer, means the accounting practice, principles, and standards of the specified jurisdiction in which the exempt issuer is incorporated, as specified in the third column of the Schedule

  overseas legislation, in relation to an exempt issuer, means the legislation of the specified jurisdiction in which the exempt issuer is incorporated, as specified in the second column of the Schedule

  specified financial statements, in relation to an exempt issuer, means the financial statements and any group financial statements that are required to be prepared in respect of the exempt issuer in accordance with the laws of the specified jurisdiction in which the exempt issuer is incorporated (including the overseas legislation)

  specified jurisdiction means a jurisdiction specified in the first column of the Schedule.

  (2) Any term or expression that is defined in the Act and used, but not defined, in this notice has the same meaning as in the Act.

  Clause 5(1) International Financial Reporting Standards: inserted, on 31 October 2008, by clause 4 of the Financial Reporting Act (Overseas Companies) Exemption Amendment Notice 2008 (SR 2008/420).