New Zealand Legislation: Regulations

14 Exemption from 5 trading day requirement for ongoing offers

• Regulation 18 is amended by revoking subclauses (4) and (5) and substituting the following subclause:

  • “(4) Multiple acquisitions and multiple dispositions of relevant interests in securities may be disclosed in 1 disclosure notice under regulation 12 (even if the acquisitions, the dispositions, or both did not take place within a 5 trading day period as required by regulation 12(1)), if—

    • “(a) the relevant interests arise from securities that are acquired or disposed of under 1 or more ongoing offers; and

    • “(b) disclosure is made in accordance with subclause (2)(a) or (b).”