Securities Act 1978

• Jurisdiction: New Zealand
• Coming into Force: 01 December 2014
• End of Effective Date: 01 December 2014
• Citation: 1978 No 103
• Year: 1978
• Reference: 1978 No 103
• Act Number: 103
• Record Number: DLM25999
• Type of Document: Act

Contenidos

• Securities Act 1978
• Preamble
• Contents
• 1 Short Title and commencement
• 2 Interpretation
• 2A Meaning of advertisement
• 2B Meaning of due enquiry
• 2C Meaning of qualified auditor
• 2D Meaning of security
• 3 Construction of references to offering securities to the public
• 3A Status of examples
• 4 Application of this Act
• 5 Exemptions from this Act
• 5A Exemption for employer superannuation schemes
• 5B Conditions of exemption for employer superannuation schemes
• Definitions for the purposes of sections 5A to 5C
• 6 Previously allotted securities
• 6A Term implied in certain offers of previously allotted securities
• 7 Territorial scope of Part 2
• 7A Temporary exemption for superannuation schemes
• 7B Terms and conditions of authorisation
• 8 Act to bind Crown
• Part 1
• 9 Securities Commission
• 10 Functions of Commission
• 11 Membership of Commission
• 12 Appointment of member to exercise powers of chairperson
• 13 Term of office of members
• 14 Remuneration of members
• 14A Travelling allowances and expenses
• 14B Commission may act by divisions
• 14C Membership, chairperson, meetings, and resolutions of division
• 14D Powers of division
• 15 Meetings of Commission
• 15A Completion of proceedings where member unable to attend meeting
• 16 Assent to resolution without a meeting
• 17 General powers of Commission
• 17A Sharing of information with Takeovers Panel
• 17B Sharing of information with Commerce Commission
• 18 Powers of Commission to take evidence
• 18A Commission may take evidence for overseas commission or body
• 19 Provisions relating to certain proceedings before Commission
• 20 Employees of Commission
• 21 Employment of experts
• 22 Superannuation or retiring allowances
• 23 Application of certain Acts to members and staff of Commission
• 24 Members of Commission and staff deemed to be officials
• 25 Commission may state case for opinion of High Court
• 26 Appeals to High Court on questions of law only
• 27 Restrictions on delegation
• 28 Protection from liability for Commission and members, officers, and employees
• 28A Commission may publish reports
• 29 Evidence of resolution of Commission
• 30 Annual reports
• 31 Money to be appropriated by Parliament for purposes of this Act
• 31A Funds of Commission
• 31B Bank accounts
• 31C Auditor-General to be auditor of Commission
• 31CA Crown entity
• 31D Investment of money
• 31E Exemption from income tax
• 32 Offences
• Part 2
• 33 Restrictions on offer of securities to the public
• 34 Restrictions on distribution of prospectuses
• 35 Restrictions on door-to-door sales
• 36 Restrictions on advertising of otherwise exempt securities
• 36A Subscriptions must be held in trust
• 37 Void irregular allotments
• 37AA Applications for relief orders in respect of section 37
• 37AB Effect of relief order in respect of section 37
• 37AC Court must make relief order in certain circumstances
• 37AD Consent for purposes of section 37AC(1)(c) or (d)
• 37AE Notice to subscriber for purposes of section 37AC(1)(e)
• 37AF How notice must be given
• 37AG Court may make order for compensation
• 37AH When court may make relief order in respect of section 37
• 37AI Transitional provision for relief orders in respect of section 37
• 37AJ Other orders that court may make in relation to relief orders under section 37AH or section 37AI
• 37AK Service and rights to appear and adduce evidence in respect of section 37
• 37AL Other proceedings for relief in respect of section 37
• 37A Voidable irregular allotments
• 37B Relief orders in respect of section 37A
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