New Zealand Legislation: Acts
Acts are laws made by Parliament
(1) Every issuer of an equity security, a debt security, a unit, or a participatory security offered to the public shall send, or cause to be sent, to the security holder either the security or a certificate of the security within one month of the allotment, or receipt by or on behalf of the issuer of a registrable transfer, of the security.
(2) Every security or certificate sent to a security holder pursuant to this section shall be executed by or on behalf of the issuer of the security:
Provided that it shall be sufficient compliance with the provisions of this subsection requiring a security or certificate to be executed by any person if a facsimile of the required signature and seal (if any) is reproduced on the security or certificate.
(3) In this section, the term certificate means a certificate or other document that properly evidences the nature, ownership, terms, and conditions of the security.
(4) Nothing in this section applies to a company to which section 95(2) of the Companies Act 1993 applies.
Subsection (1) was amended, as from 1 October 1997, by section 26 Securities Amendment Act 1996 (1996 No 100) by substituting the words “an equity security, a debt security, a unit, or a participatory security”
for the words “a security”
. See section 2 of that Act for transitional provisions relating to its application.
Subsection (4) was inserted, as from 1 July 1994, by section 2 Company Law Reform (Transitional Provisions) Act 1994 (1994 No 16).
Subsection (4) was amended, as from 15 April 2004, by section 22 Securities Amendment Act 2004 (2004 No 31) by substituting the words “section 95(2) of the Companies Act 1993”
for the words “section 90(2) of the Companies Act 1955 or section 95(2) of the Companies Act 1993, as the case may be,”
.