This note is not part of the regulations, but is intended to indicate their general effect.
These regulations, which come into force on 1 February 2008, exempt providers of KiwiSaver schemes (in connection with a KiwiSaver scheme) from regulation 7A(4) of the Securities Regulations 1983 in relation to an investment statement first distributed before 1 April 2008. The providers are exempted in respect of information that must be disclosed in an investment statement because of changes to the scheme or the securities arising from any provision of the Taxation (KiwiSaver) Act 2007.
The exemption expires on 31 July 2008.
The effect of the exemption is that investment statements first distributed before 1 April 2008 need not be set out as required by regulation 7A(4). This enables providers, until 31 July 2008, to indicate the changes or corrections to investment statements required because of the Taxation (KiwiSaver) Act 2007 by way of an insert or supplement distributed with such investment statements. However, information provided in the inserts or supplements must be set out in a style or format consistent with the investment statement.
Date of notification in Gazette: 31 January 2008.
These regulations are administered by the Ministry of Economic Development.