New Zealand Legislation: Regulations

10 Conditions of exemption in clause 9

• The exemption in clause 9 is subject to the conditions that—

  • (a) the registered prospectus relating to the offer contains a prospective statement of cash flows for the group comprising Quayside and its subsidiaries, other than Port of Tauranga Limited and its subsidiaries, for each of the following periods:

    • (i) the period commencing on 1 July 2007 and ending on the close of 30 June 2008; and

    • (ii) the period commencing on 1 July 2008 and ending on the close of 30 June 2009; and

  • (b) the prospective statements of cash flows referred to in paragraph (a) comply with clause 10(2)(b) of Schedule 1 of the Regulations; and

  • (c) immediately following the prospective statements of cash flows referred to in paragraph (a), there is a statement about the likely receipt and proposed use of the proceeds of the offer of the specified securities.