New Zealand Legislation: Regulations

8 Exemption from section 37A(1)(a) and (b) of Act for new securities

• Clause 11 is amended by revoking subclause (2) and substituting the following subclause:

  • “(2) In this clause, new security means an equity security or unit that is allotted under the terms of, or on the exercise by any person of a right conferred by, any convertible security.”