New Zealand Legislation: Regulations

6 Exemption from section 37 of Act for units

• (1) Every person is exempted from section 37 of the Act in respect of any units that are, or are to be, allotted—

  • (a) by an issuer that meets the requirements in clause 8; and

  • (b) under the terms of, or on the exercise by any person of a right conferred by, any convertible security.

  (2) [Revoked]

  Clause 6(2): revoked, on 29 May 2009, by clause 6 of the Securities Act (Rights, Options, and Convertible Securities) Exemption Amendment Notice 2009 (SR 2009/149).