New Zealand Legislation: Regulations

14 When Part 2 of Act and Regulations apply to securities offered in Australia by New Zealand issuer

• (1) Subject to subclause (2), Part 2 of the Act (except section 35) and the Regulations apply to securities offered in Australia by a New Zealand issuer when the issuer makes, or purports to make, the offer under the Australian recognition scheme.

  (2) Part 2 of the Act and the Regulations do not apply to securities offered in Australia by a New Zealand issuer under subclause (1) to the extent that the offer is exempted under section 5(5) of the Act from compliance with Part 2 and the Regulations.

  (3) In this regulation, Regulations means—

  • (a) the Securities Regulations 2009; or

  • (b) the Securities Regulations 1983 if those regulations apply to the offer in accordance with subclause (4).

  (4) For the purposes of subclause (3), regulations 50 to 56 of the Securities Regulations 2009 apply with all necessary modifications as if the securities were offered in New Zealand (with the effect that the Securities Regulations 1983 may apply if, for example, a prospectus is registered before 1 October 2009 or the issuer elects to comply with those regulations).

  Regulation 14(3): added, on 1 October 2009, by regulation 49 of the Securities Regulations 2009 (SR 2009/230).

  Regulation 14(4): added, on 1 October 2009, by regulation 49 of the Securities Regulations 2009 (SR 2009/230).