This note is not part of the order, but is intended to indicate its general effect.
This order brings into force, on 12 March 2009, section 25 of the Securities Amendment Act 2002.
Section 25 amends the Securities Act 1978 (the Act) to remove the exclusivity of the Securities Commission's law reform role of recommending regulations made under section 70 of the Act. Instead, section 25 enables the Minister to recommend regulations after consultation with the Commission. The current requirement (in section 70(1) and (3) of the Act) for the Commission to engage in a consultation process before making a recommendation is removed.
Date of notification in Gazette: 12 February 2009.
This order is administered by the Ministry of Economic Development.