New Zealand Legislation: Regulations

10 Exemptions from other provisions of Act and Regulations

• Every specified financial institution, and every person acting on its behalf, is exempted, in respect of specified securities, from—

  • (a) regulation 7A(4) of the Regulations in respect of information that must be disclosed in an investment statement about the deposit guarantee scheme; and

  • (b) clause 10 of Schedule 3D of the Regulations to the extent that it requires information about the Crown guarantee; and

  • (c) clause 20 of Schedule 3D of the Regulations to the extent that the provision requires the investment statement for those securities to state that financial statements of the Crown are available on request from the issuer; and

  • (d) section 54B(1) of the Act to the extent that the provision requires the specified financial institution, on request, to send, or cause to be sent, to a security holder the financial statements of the Crown.

  Clause 10(a): substituted, on 28 November 2008, by clause 5 of the Securities Act (New Zealand Deposit Guarantee Scheme) Exemption Amendment Notice 2008 (SR 2008/439).