New Zealand Legislation: Regulations
Regulations are laws made under Acts
(1) Securities to which this Part applies are exempt if the requirements of regulations 9 to 12 are satisfied.
(2) This Part does not apply to an offer of securities to the public in New Zealand by an Australian issuer if the Commission has given a notice under regulation 13(4) to the Australian issuer that the Australian issuer must not make further offers under these regulations, and that notice has not been revoked or otherwise expired.
(3) If satisfied that a failure to meet a requirement contained in regulation 11 or 12 is minor or technical only, the Commission may declare in writing that it is a non-material breach.
(4) The effect of a declaration of a non-material breach is that the requirement in question is deemed to have been complied with.
(5) Subject to regulation 11(5), if there is more than 1 Australian issuer of the securities, then compliance by any 1 of them with a requirement of these regulations is deemed to be compliance by the others.