Corporations (NZ Closer Economic Relations) and Other Legislation Amendment Act 2007 (85 of 2007)

Schedule 1   Mutual recognition of securities offers

Corporations Act 2001

9   Section 111AI

Repeal the section, substitute:

111AI Debentures

Debentures of a borrower are ED securities if:

(a) section 283AA requires the borrower to appoint a trustee; or

(b) section 283AA does not apply to the borrower only because the offer of the debentures to which section 283AA would otherwise have applied is a recognised offer.