New Zealand Legislation: Regulations

4 Exemptions from regulation 17 of Regulations

• (1) Clause 7(3) is revoked and the following subclause substituted:

  • “(3) The exemption in subclause (1) is subject to the condition that,—

    • “(a) in the case of an advertisement other than an investment statement, the reference to the Crown guarantee complies with the conditions in clause 6(c) to (e):

    • “(b) in the case of an advertisement that is an investment statement, the investment statement must contain, or be accompanied by, the information and statements referred to in clause 9(a).”

  (2) Clause 7(5) is revoked and the following subclause substituted:

  • “(5) The exemption in subclause (4) is subject to the condition that,—

    • “(a) in the case of an advertisement other than an investment statement, the certificate that is completed in respect of the advertisement certifies that the reference in the advertisement to the Crown guarantee complies with the conditions in clause 6(c) to (e) and that, in all other respects, the advertisement does not contain any matter that,—

      • “(i) in the case of a bank, is inconsistent with the disclosure statement referred to in the advertisement; or

      • “(ii) in the case of a financial institution that is not a bank, is inconsistent with the registered prospectus for the securities:

    • “(b) in the case of an advertisement that is an investment statement, the certificate that is completed in respect of the advertisement certifies that the advertisement contains, or is accompanied by, the information and statements referred to in clause 9(a) and that, in all other respects, the advertisement does not contain any matter that,—

      • “(i) in the case of a bank, is inconsistent with the disclosure statement referred to in the advertisement; or

      • “(ii) in the case of a financial institution that is not a bank, is inconsistent with the registered prospectus for the securities.”