New Zealand Legislation: Regulations

6 Condition of exemptions in clause 5

• The exemptions in clause 5 are subject to the condition that the investment statement relating to the offer of the redeemable shares (which is required to the extent that the redeemable shares consist of debt securities) clearly explains—

  • (a) the nature of the redeemable shares; and

  • (b) the rights of purchasers of the redeemable shares that arise from those redeemable shares to the extent that they consist of participatory securities.