New Zealand Legislation: Regulations

15 Exemption from 5 trading day requirement for employee share schemes

• Regulation 20 is amended by revoking subclauses (3) and (4) and substituting the following subclause:

  • “(3) All of the relevant interests in securities that have been acquired or disposed of by a director or officer under the employee share scheme may be disclosed in 1 disclosure notice in accordance with regulation 12, in which case the requirement in regulation 12(1) that the acquisitions and disposals took place within a 5 trading day period does not apply.”