House of Representatives

Corporations (NZ Closer Economic Relations) and Other Legislation Amendment Bill 2007

Explanatory Memorandum

(Circulated by the authority of the Parliamentary Secretary to the Treasurer, the Hon Chris Pearce, MP)

Under the Securities Act 1978 (NZ) participatory securities are securities other than equity securities, debt securities, units in unit trusts, interests in superannuation schemes and life insurance policies.

Subsection 1200G(14) addresses the possibility that there is more than one relevant regulator, as is the case in New Zealand.

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