New Zealand Legislation: Acts

52 Rights of inspection of registers of securities and to copies of registers and deeds

• (1) The registers kept under paragraphs (a) to (d) of section 51(1) of this Act shall, except when duly closed (but subject to such reasonable restrictions as the issuer may impose, so that not less than 2 hours in each day shall be allowed for inspection), be open to the inspection of any holder of the securities without fee, and of any other person on payment of the prescribed fee.

  (2) The registers kept under paragraphs (e) and (f) of section 51(1) of this Act shall, except when duly closed (but subject to such reasonable restrictions as the issuer may impose, so that not less than 2 hours in each day shall be allowed for inspection), be open to the inspection of a holder of securities in respect of the securities of that holder without fee.

  (3) Any person may require a copy of a register kept under paragraphs (a) to (d) of section 51(1) of this Act, or any part of the register, on payment of the prescribed fee.

  (4) A holder of securities may require a copy of that part of a register kept under paragraph (e) or paragraph (f) of section 51(1) of this Act that relates to the securities of that holder on payment of the prescribed fee.

  (5) For the purposes of this section, a register shall be deemed to be duly closed if closed in accordance with provisions contained in the rules of the issuer or in the securities or any trust deed or deed of participation relating to the securities, during a period or periods not exceeding in aggregate 30 days in any year.

  (6) Nothing in this section derogates from the Life Insurance Act 1908 or the Companies Act 1993.

  The original subsection (5) was amended, as from 1 July 1994, by section 2 Company Law Reform (Transitional Provisions) Act 1994 (1994 No 16) by inserting the words “or the Companies Act 1993”.

  Sections 51 to 53 were substituted, as from 1 October 1997, by section 24 Securities Amendment Act 1996 (1996 No 100). See section 2 of that Act for transitional provisions relating to its application.

  Subsection (6) was amended, as from 15 April 2004, by section 19 Securities Amendment Act 2004 (2004 No 31) by omitting the words “or the Companies Act 1955”.