New Zealand Legislation: Regulations
Regulations are laws made under Acts
(1) The heading to clause 10 is amended by omitting “Exemption”
and substituting “Exemptions”
.
(2) Clause 10 is amended by omitting “Regulations”
and substituting “Securities Regulations 1983 or regulation 6(1)(a) and (2) of the Regulations”
.
(3) Clause 10 is amended by adding the following subclause as subclause (2):
“(2) Every person is exempted from section 37A(1)(ab)(i) of the Act in respect of an allotment of securities to a subscriber for those securities in whose favour an offer of those securities has been renounced to the extent that the offer is an offer made to persons who already hold securities of the issuer.”
