Securities Act (Overseas Employee Share Purchase Schemes) Exemption Amendment Notice (No 4) 2008

  • revoked
  • Securities Act (Overseas Employee Share Purchase Schemes) Exemption Amendment Notice (No 4) 2008: revoked, on 1 December 2016, pursuant to Schedule 1 clause 26 of the Financial Markets Conduct Regulations 2014 (LI 2014/326).

Reprint as at 1 December 2016

Coat of Arms of New Zealand

Securities Act (Overseas Employee Share Purchase Schemes) Exemption Amendment Notice (No 4) 2008

(SR 2008/451)

Securities Act (Overseas Employee Share Purchase Schemes) Exemption Amendment Notice (No 4) 2008: revoked, on 1 December 2016, pursuant to Schedule 1 clause 26 of the Financial Markets Conduct Regulations 2014 (LI 2014/326).

Note

Changes authorised by subpart 2 of Part 2 of the Legislation Act 2012 have been made in this official reprint.

Note 4 at the end of this reprint provides a list of the amendments incorporated.

This notice is administered by the Financial Markets Authority.

Pursuant to the Securities Act 1978, the Securities Commission gives the following notice (to which is appended a statement of reasons of the Securities Commission).

Notice

1 Title

This notice is the Securities Act (Overseas Employee Share Purchase Schemes) Exemption Amendment Notice (No 4) 2008.

2 Commencement

This notice comes into force on the day after the date of its notification in the Gazette.

4 Schedule 1 amended

Schedule 1 is amended by inserting the following item in its appropriate alphabetical order: “Talgentra Pacific Group Pty Ltd (a company incorporated under the laws of Australia)”.

Dated at Wellington this 16th day of December 2008.

The Common Seal of the Securities Commission was affixed in the presence of:

[Seal]

C A N Beyer,
Member.

Statement of reasons

This notice, which comes into force on the day after the date of its notification in the Gazette, amends the Securities Act (Overseas Employee Share Purchase Schemes) Exemption Notice 2002 (the principal notice) to name Talgentra Pacific Group Pty Ltd (Talgentra) as a specified overseas issuer for the purposes of that notice.

The Securities Commission has adopted criteria for considering applications for the naming of an overseas company as a specified overseas issuer. These are that the company should—

  • be incorporated in a jurisdiction specified in Schedule 2 of the principal notice; and

  • have in place arrangements for eligible persons to sell securities acquired by them under the employee share purchase scheme, either through an alternative or internal market or through a repurchase facility, where the Securities Commission considers the arrangements provide adequate liquidity for security holders and adequate information to assist their decision making.

The Securities Commission considers it appropriate to name Talgentra as a specified overseas issuer because—

  • Talgentra is incorporated in Australia, a jurisdiction named in Schedule 2 of the principal notice; and

  • the Securities Commission considers that the arrangements for an event triggering the security holders’ rights to exit the scheme provide sufficient liquidity and sufficient information to adequately protect the security holders.

Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 18 December 2008.

Reprints notes
1 General

This is a reprint of the Securities Act (Overseas Employee Share Purchase Schemes) Exemption Amendment Notice (No 4) 2008 that incorporates all the amendments to that notice as at the date of the last amendment to it.

2 Legal status

Reprints are presumed to correctly state, as at the date of the reprint, the law enacted by the principal enactment and by any amendments to that enactment. Section 18 of the Legislation Act 2012 provides that this reprint, published in electronic form, has the status of an official version under section 17 of that Act. A printed version of the reprint produced directly from this official electronic version also has official status.

3 Editorial and format changes

Editorial and format changes to reprints are made using the powers under sections 24 to 26 of the Legislation Act 2012. See also http://www.pco.parliament.govt.nz/editorial-conventions/.

4 Amendments incorporated in this reprint

Financial Markets Conduct Regulations 2014 (LI 2014/326): Schedule 1 clause 26