New Zealand Legislation: Regulations

6 Conditions of exemptions in clause 5

• The exemptions in clause 5 are subject to the conditions that—

  • (a) the advertisement must comply with regulations 9 and 11 of the Regulations in respect of matters other than the reference to the Crown guarantee; and

  • (b) if there is a registered prospectus relating to the specified securities, a memorandum of amendments containing amendments required to update the prospectus as a result of the Crown guarantee must be delivered to the Registrar of Companies within 5 working days of the date on which the issuer becomes a specified financial institution; and

  • (c) the reference to the Crown guarantee in the advertisement must be in the following form: “[name of issuer] has a guarantee under the New Zealand deposit guarantee scheme”; and

  • (d) in the case of advertisements other than investment statements, any other information contained in the advertisement concerning the Crown guarantee must be limited to—

    • (i) a statement to the effect that further information about the deposit guarantee scheme is available, free of charge and at all reasonable times, on the Internet site maintained by, or on behalf of, the Treasury; and

    • (ii) any other information or statement that is necessary to avoid misleading or confusing investors about the application of the Crown guarantee (whether in respect of the issuer or any products of the issuer); and

  • (e) the advertisement must not contain any information, sound, image, or other matter that is inconsistent with information published about the deposit guarantee scheme on the Internet site maintained by, or on behalf of, the Treasury.