Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698829887705.pdf (New Zealand)
Reprint as at 31 August 2009 Securities Act (New Zealand Post Limited) Exemption Notice 2004 (SR 2004/259) Securities Act (New Zealand Post Limited) Exemption Notice 2004: expired, on 31 August 2009, by clause 3.

Pursuant to the Securities Act 1978, the Securities Commission gives the following notice (to which is appended a statement of reasons of the Securities Commission).
Contents Title Commencement Expiry Interpretation Exemptions Conditions of exemption in clause 5(a) Conditions of exemptions in clause 5(b) Condition of exemption in clause 5(d) Condition of exemption in clause 5(e) Page 2 2 2 2 2 3 3 4 4 Note Changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in this reprint.
A general outline of these changes is set out in the notes at the end of this reprint, together with other explanatory material about this reprint.

This notice is administered by the Securities Commission.

1 cl 1 Securities Act (New Zealand Post Limited) Exemption Notice 2004 Reprinted as at 31 August 2009 1 2 3 4 (1) Notice Title This notice is the Securities Act (New Zealand Post Limited) Exemption Notice 2004.

Commencement This notice comes into force on 31 August 2004.
Expiry This notice expires on the close of 30 August 2009.
Interpretation In this notice, unless the context otherwise requires,— Act means the Securities Act 1978 company means New Zealand Post Limited net amount, in relation to specified debt securities, means an amount equivalent to the face value of all specified debt se- curities issued by the company on a particular day less any amounts paid by the company for the redemption or cancella- tion of specified debt securities on that day Regulations means the Securities Regulations 1983 specified debt securities means call debt securities in the form of money orders issued by the company in favour of security holders.
(2) Any term or expression that is defined in the Act or the Regu- lations and used, but not defined, in this notice has the same meaning as in the Act or the Regulations.
Exemptions The company and every person acting on its behalf are, in respect of the specified debt securities, exempted from— (a) (b) section 33(2) of the Act; and section 37A(1)(c) of the Act and clauses 7, 8, 13, 15 to 32, 35, and 36 of Schedule 2 of the Regulations; and section 51(2)(a) of the Act in so far as that provision requires a register kept for the purposes of section (c) 5 2 Reprinted as at 31 August 2009 Securities Act (New Zealand Post Limited) Exemption Notice 2004 cl 7 6 7 51(1)(b) of the Act to contain the address of a holder; and section 52(1) of the Act; and section 52(3) of the Act; and section 54 of the Act.
(d) (e) (f) Conditions of exemption in clause 5(a) The exemption in clause 5(a) is subject to the conditions that— as soon as practicable, the company deposits the net (a) amount received in respect of specified debt securities into a bank account kept specially for that purpose with a registered bank; and the company is liable as a term of the offer to repay the face value of any specified debt securities from the time the payment for the specified debt securities is received.
(b) Conditions of exemptions in clause 5(b) The exemptions in clause 5(b) are subject to the conditions that— (a) every registered prospectus containing or referring to an offer of specified debt securities contains, or is accom- panied by, a copy of the most recent— (i) audited financial statements of the company that— (A) (B) comply with the Financial Reporting Act 1993; and have either been laid before the House of Representatives in accordance with sec- tion 17(2) of the State-Owned Enterprises Act 1986 or have been published in ac- cordance with section 17(2A) of that Act; and (b) (ii) certificate prepared in accordance with paragraph (b); and during the period that the offer of specified debt secur- ities remains open for subscription, the company lodges with the Registrar certificates that— (i) refer to the most recent audited financial state- ments of the company; and 3 cl 8 Securities Act (New Zealand Post Limited) Exemption Notice 2004 Reprinted as at 31 August 2009 (ii) (iii) (iv) (v) are accompanied by the most recent audited fi- nancial statements of the company; and are signed on behalf of the directors by at least 2 directors of the company; and state that, in the opinion of the directors of the company after due enquiry by them, the regis- tered prospectus is not, at the date of the certifi- cate, false or misleading in a material particular by reason of failing to refer or give proper em- phasis to adverse circumstances; and either— (A) state that the information contained in the registered
 prospectus under clause 12 of Schedule 2 of the Regulations is correct; or contain a current statement of the informa- tion specified in clause 12 of Schedule 2 of the Regulations; and (B) (c) the company lodges the certificates referred to in para- graph (b) with the Registrar before the expiry of 7 days after the most recent audited financial statements of the company have, in accordance with paragraph (a)(i)(B), either been laid before the House of Representatives or been published.
Condition of exemption in clause 5(d) The exemption in clause 5(d) is subject to the condition that the register kept by the company under section 51(1)(b) of the Act is, except when duly closed (but subject to any reasonable restrictions that the company may impose, so that not less than 2 hours in each day is allowed for inspection), open, without fee, to the inspection of any holder of specified debt securities in respect of the specified debt securities of that holder.
Condition of exemption in clause 5(e) The exemption in clause 5(e) is subject to the condition that, on payment by a holder of specified debt securities of the fee prescribed for the purposes of section 52(4) of the Act, the company provides to the holder of specified debt securities a 8 9 4 Reprinted as at 31 August 2009 Securities Act (New Zealand Post Limited) Exemption Notice 2004 Statement of reasons copy of any part of the register kept under section 51(1)(b) of the Act that relates to the specified debt securities of the security holder.
Dated at Wellington this 23rd day of August 2004.

The Common Seal of the Securities Commission was affixed in the presence of: [Seal] J Diplock, Chairperson.

Statement of reasons This notice, which comes into force on 31 August 2004 and expires on 30 August 2009, exempts New Zealand Post Limited (NZ Post), subject to conditions, from certain provisions of the Securities Act 1978 and the Securities Regulations 1983 in respect of money orders issued by NZ Post.
This notice replaces the Securities Act (New Zealand Post Limited) Exemption Notice 1999 (SR 1999/304), which expired on 30 August 2004.

However, some of the conditions in this notice are different to those in the 1999 notice.
The Securities Commission considers that it is appropriate to grant the exemptions because— • the trustee’s role in monitoring and intervention would be of limited benefit to security holders as money orders are more in the nature of a transaction for a cash equivalent than an investment.

Purchasers of money orders will not be entitled to a return on their funds.
The exemption is subject to the 5 • • Securities Act (New Zealand Post Limited) Exemption Notice 2004 Reprinted as at 31 August 2009 condition that NZ Post has a bank account specially for the purpose of setting aside the net amount received in respect of the money orders purchased and NZ Post will be liable to repay money orders as soon as they have been purchased; and the nature of the money order scheme means that no change in the description of the details of the scheme is likely to occur.
If changes do occur, NZ Post is still subject to the general re- quirements of the Securities Act 1978 relating to false or mis- leading information.
NZ Post is still required to supply the most recent financial statements of the company and its direct- ors are required to certify, on lodging the company’s accounts each year, that the prospectus is not false or misleading; and money order transactions are likely to be of short-term dura- tion and therefore the information on the register kept by NZ Post in accordance with section 51(1)(b) of the Securities Act 1978 would become outdated quickly.
A money order is usu- ally redeemed before a certificate would be required to be sent to the holder (within 30 days) if that were required.

On pay- ment of the prescribed fee, NZ Post is liable to provide to the money order holder a copy of any part of the register that re- lates to that holder.

Issued under the authority of the Acts and Regulations Publication Act 1989.

Date of notification in Gazette: 26 August 2004.


6 Reprinted as at 31 August 2009 Securities Act (New Zealand Post Limited) Exemption Notice 2004 Notes Contents 1 2 3 4 General Status of reprints How reprints are prepared Changes made under section 17C of the Acts and Regulations Publication Act 1989 List of amendments incorporated in this reprint (most recent first) 5 Notes 1 2 3 General This is a reprint of the Securities Act (New Zealand Post Limited) Exemption Notice 2004.
The reprint incorporates all the amendments to the notice as at 31 August 2009, as specified in the list of amendments at the end of these notes.

Relevant provisions of any amending enactments that con- tain transitional, savings, or application provisions are also in- cluded, after the principal enactment, in chronological order.
Status of reprints Under section 16D of the Acts and Regulations Publication Act 1989, reprints are presumed to correctly state, as at the date of the reprint, the law enacted by the principal enactment and by the amendments to that enactment.

This presumption applies even though editorial changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in the reprint.
This presumption may be rebutted by producing the official volumes of statutes or statutory regulations in which the prin- cipal enactment and its amendments are contained.

How reprints are prepared A number of editorial conventions are followed in the prep- aration of reprints.

For example, the enacting words are not included in Acts, and provisions that are repealed or revoked are omitted.
For a detailed list of the editorial conventions, see http://www.pco.parliament.govt.nz/editorial-conventions/ 7 Notes Securities Act (New Zealand Post Limited) Exemption Notice 2004 Reprinted as at 31 August 2009 or Part 8 of the Tables of New Zealand Acts and Ordinances and Statutory Regulations and Deemed Regulations in Force.
Changes made under section 17C of the Acts and Regulations Publication Act 1989 Section 17C of the Acts and Regulations Publication Act 1989 authorises the making of editorial changes in a reprint as set out in sections 17D and 17E of that Act so that, to the extent permitted, the format and style of the reprinted enactment is consistent with current legislative drafting practice.

Changes that would alter the effect of the legislation are not permitted.
A new format of legislation was introduced on 1 January 2000.

Changes to legislative drafting style have also been made since 1997, and are ongoing.

To the extent permitted by section 17C of the Acts and Regulations Publication Act 1989, all legisla- tion reprinted after 1 January 2000 is in the new format for legislation and reflects current drafting practice at the time of the reprint.
In outline, the editorial changes made in reprints under the au- thority of section 17C of the Acts and Regulations Publication Act 1989 are set out below, and they have been applied, where relevant, in the preparation of this reprint: • omission of unnecessary referential words (such as “of this section” and “of this Act”) typeface and type size (Times Roman, generally in 11.5 point) layout of provisions, including: • • indentation position of section headings (eg, the number and heading now appear above the section) format of definitions (eg, the defined term now appears in bold type, without quotation marks) format of dates (eg, a date formerly expressed as “the 1st day of January 1999” is now expressed as “1 January 1999”) position of the date of assent (it now appears on the front page of each Act) punctuation (eg, colons are not used after definitions) • • • • • • 4 8 Reprinted as at 31 August 2009 Securities Act (New Zealand Post Limited) Exemption Notice 2004 Notes • • • • • Parts numbered with roman numerals are replaced with arabic numerals, and all cross-references are changed accordingly case and appearance of letters and words, including: • format of headings (eg, headings where each word formerly appeared with an initial cap- ital letter followed by small capital letters are amended so that the heading appears in bold, with only the first word (and any proper nouns) appearing with an initial capital letter) small capital letters in section and subsection ref- erences are now capital letters • schedules are renumbered (eg, Schedule 1 replaces First Schedule), and all cross-references are changed accord- ingly running heads (the information that appears at the top of each page) format of two-column schedules of consequential amendments, and schedules of repeals (eg, they are rearranged into alphabetical order, rather than chrono- logical).
List of amendments incorporated in this reprint (most recent first) Securities Act (SR 2004/259): clause 3 (New Zealand Post Limited) Exemption Notice 2004 5 12 Wellington, New Zealand: Published under the authority of the New Zealand Government—2009 9