New Zealand Legislation: Regulations
Regulations are laws made under Acts
(1) Except as provided in subclauses (2) to (4) of this regulation, no registered prospectus or advertisement shall contain—
(a) A statement to the effect that permission has been granted for the securities to which the registered prospectus or advertisement relates to be listed on a registered exchange's market; or
(b) A statement in any way referring to any such permission, or to any application or intended application for any such permission, or to listing the securities or to any requirements of the registered exchange.
(2) Where, on or before the date of a registered prospectus, or the date of distribution of an advertisement, relating to securities, there has been delivered to the Registrar for registration an acknowledgment by a registered exchange to the effect that all its requirements (other than those relating to the number of holders of the securities) for listing the securities have been met, the registered prospectus or advertisement may include a statement in the following terms:
“Application has been made to [name of registered exchange] for permission to list the securities and all the requirements of [name of the registered exchange] relating thereto that can be complied with on or before the date of the prospectus (or the distribution of the advertisement) have been duly complied with. However, [name of the registered exchange] accepts no responsibility for any statement in this prospectus (or advertisement).”
(3) Where, on or before the date of a registered prospectus, or the date of distribution of an advertisement, relating to securities, there has been delivered to the Registrar for registration an acknowledgment by a registered exchange to the effect that the securities have been accepted for listing, the registered prospectus or advertisement may include a statement in the following terms:
“The securities have been accepted for listing by [name of registered exchange] and will be quoted upon completion of allotment procedures. However, [name of the registered exchange] accepts no responsibility for any statement in this prospectus (or advertisement).”
(4) Every registered prospectus (other than a registered prospectus that contains an offer of life insurance policies or interests in a superannuation scheme) that does not contain either of the statements set out in subclauses (2) and (3) of this regulation shall contain a statement to the effect that listing of the securities is not being sought.
The heading to regulation 23 was amended, as from 1 December 2002, by section 30 Securities Markets Amendment Act 2002 (2002 No 44), by substituting the words “registered exchange's market”
for the words “stock exchange”
.
Subclause (1)(a) was amended, as from 1 December 2002, by section 30 Securities Markets Amendment Act 2002 (2002 No 44), by substituting the words “on a registered exchange's market”
for the words “by a trading exchange”
.
Subclause (1)(b) was amended, as from 1 December 2002, by section 30 Securities Markets Amendment Act 2002 (2002 No 44), by substituting the words “the registered exchange”
for the words “the Stock Exchange Association of New Zealand”
.
Subclause (2) was amended, as from 1 December 2002, by section 30 Securities Markets Amendment Act 2002 (2002 No 44), by substituting the words “a registered exchange”
for the words “the Stock Exchange Association of New Zealand”
in the first place they occur.
Subclause (2) was amended, as from 1 December 2002, by section 30 Securities Markets Amendment Act 2002 (2002 No 44), by substituting the words “[name of registered exchange]”
for the words “the Stock Exchange Association of New Zealand”
in the second place they occur.
Subclause (2) was amended, as from 1 December 2002, by section 30 Securities Markets Amendment Act 2002 (2002 No 44), by substituting the words “[name of the registered exchange]”
for the words “the Association”
in both places they occur.
Subclause (3) was amended, as from 1 December 2002, by section 30 Securities Markets Amendment Act 2002 (2002 No 44), by substituting the words “a registered exchange”
for the words “the Stock Exchange Association of New Zealand”
in the first place they occur.
Subclause (3) was amended, as from 1 December 2002, by section 30 Securities Markets Amendment Act 2002 (2002 No 44), by substituting the words “[name of registered exchange]”
for the words “the Stock Exchange Association of New Zealand”
in the second place they occur.
Subclause (3) was amended, as from 1 December 2002, by section 30 Securities Markets Amendment Act 2002 (2002 No 44), by substituting the words “[name of the registered exchange]”
for the words “the Association”
.
Subclause (4) was amended, as from 1 October 1997, by regulation 14 Securities Amendment Regulations 1997 (SR 1997/151) by inserting the words “(other than a registered prospectus that contains an offer of life insurance policies or interests in a superannuation scheme)”
.