Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698840962051.pdf (New Zealand)
Reprint as at 1 December 2014 Securities Transfer (Approval of FASTER System) Order 2001 (SR 2001/238) Silvia Cartwright, Governor-General Order in Council At Wellington this 10th day of September 2001 Present: Her Excellency the Governor-General in Council Pursuant to section 7 of the Securities Transfer Act 1991, Her Ex- cellency the Governor-General, acting on the advice and with the consent of the Executive Council and on the advice of the Minister of Commerce given in accordance with a recommendation of the Se- curities Commission, makes the following order.
Contents 1 2 Title Commencement Page 2 2 Note Changes authorised by subpart 2 of Part 2 of the Legislation Act 2012 have been made in this official reprint.

Note 4 at the end of this reprint provides a list of the amendments incorporated.

This order is administered by the Ministry of Business, Innovation, and Employment.
1 cl 1 Securities Transfer (Approval of FASTER System) Order 2001 Reprinted as at 1 December 2014 Interpretation Approval of system for electronic transfer of financial products Revocation Schedule Description of FASTER system 2 2 3 3 Order Title This order is the Securities Transfer (Approval of FASTER System) Order 2001.

Commencement This order comes into force on 12 October 2001.
Interpretation In this order, unless the context otherwise requires, terms and expressions have the same meaning as in the Financial Mar- kets Conduct Act 2013.

Clause 3: amended, on 1 December 2014, by section 150 of the Financial Mar- kets (Repeals and Amendments) Act 2013 (2013 No 70).
Approval of system for electronic transfer of financial products The system controlled by the vesting entity (within the mean- ing of section 4 of the New Zealand Stock Exchange Restruc- turing Act 2001) and known as the FASTER system, the es- sential requirements of which are described in the Schedule, is approved for the transfer of financial products to which sub- part 9 of Part 5 of the Financial Markets Conduct Act 2013 applies.
Clause 4 heading: amended, on 1 December 2014, by section 150 of the Finan- cial Markets (Repeals and Amendments) Act 2013 (2013 No 70).

Clause 4: amended, on 1 December 2014, by section 150 of the Financial Mar- kets (Repeals and Amendments) Act 2013 (2013 No 70).

Clause 4: amended, on 31 December 2002, by section 18(3) of the New Zealand Stock Exchange Restructuring Act 2002 (2002 No 1 (P)).
3 4 5 1 2 3 4 2 Reprinted as at 1 December 2014 Securities Transfer (Approval of FASTER System) Order 2001 Schedule 5 1 Revocation The Securities Transfer (Approval of FASTER System) Order 1998 (1998/83) is revoked.
Schedule Description of FASTER system cl 4 Interpretation For the purposes of the following description of the FASTER system,— buyer includes a transferee who acquires securities without consideration Exchange means the vesting entity (within the meaning of section 4 of the New Zealand Stock Exchange Restructuring Act 2001) FASTER transfer account means an account in the name of a participant or its nominee that records securities of public issuers that are held for transfer through the FASTER system and are either— (a) held by the participant on behalf of the seller or buyer of the securities; or held by the participant in its own right (b) FIN means the FASTER Identification Number issued to a holder of securities by the public issuer of the securities participant means a person or body (whether corporate or unincorporate) authorised by the Exchange to effect the elec- tronic transfer of securities through the FASTER system public issuer means a person or body (whether corporate or unincorporate) that is a party with the Exchange to— (a) (b) public issuer’s register means a register of a class of secur- ities maintained by a public issuer securities means financial products to which subpart 9 of Part 5 of the Financial Markets Conduct Act 2013 applies that are— (a) a listing agreement; or a securities transfer services agreement quoted by the Exchange; and 3 Schedule Securities Transfer (Approval of FASTER System) Order 2001 Reprinted as at 1 December 2014 (b) approved by the Exchange for transfer through the
 FASTER system that person’s securities holder number; and the name of the public issuer; and the number of securities held by that person; and the class of securities held by that person securities holder’s statement means a statement issued to a holder of securities by a public issuer that includes the follow- ing details: (a) (b) (c) (d) securities transfer services agreement means an agreement between the Exchange and a public issuer under which the public issuer agrees to the use of the FASTER system to trans- fer the public issuer’s securities or a class of them seller includes a transferor disposing of securities without con- sideration sharebroker authorised by the Exchange means a sharebro- ker authorised to undertake activities on the Exchange acting in the ordinary course of business as such; and includes an of- ficer, employee, or agent of the sharebroker.
Schedule clause 1 Exchange: amended, on 31 December 2002, by section 18(3) of the New Zealand Stock Exchange Restructuring Act 2002 (2002 No 1 (P)).

Schedule clause 1 member of the Exchange: revoked, on 31 December 2002, by section 18(3) of the New Zealand Stock Exchange Restructuring Act 2002 (2002 No 1 (P)).

Schedule clause 1 securities: amended, on 1 December 2014, by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70).
Schedule clause 1 sharebroker authorised by the Exchange: added, on 31 De- cember 2002, by section 18(3) of the New Zealand Stock Exchange Restructur- ing Act 2002 (2002 No 1 (P)).

System description The FASTER system is controlled by the Exchange and is used to effect the electronic transfer of securities from a seller to a buyer.

The essential requirements of the FASTER system are— (a) the provision by a public issuer of a FIN to all securities holders who are not participants.
A FIN may be varied from time to time by the public issuer: if the seller is a participant, an electronic entry into the computer system controlling the public issuer’s regis- (b) 2 4 Reprinted as at 1 December 2014 Securities Transfer (Approval of FASTER System) Order 2001 Schedule (c) (d) (e) ter indicating that the securities are held in the seller’s FASTER transfer account: if the seller is not a participant, an electronic entry into the computer system controlling the public issuer’s register effected by a participant who is a sharebroker authorised by the Exchange— (i) entering the information described in paragraph (d) into the FASTER computer link system be- tween the participant, the Exchange, and the pub- lic issuer; and deleting the seller’s name as the registered holder of the securities; and either entering the participant’s name as the registered holder of the securities, together with an indica- tion that the securities are held in the participant’s FASTER transfer account; or entering the name of the FASTER transfer ac- count of the participant as the registered holder of the securities: (ii) (iii) (iv) the information referred to in paragraph (c)(i) is— (i) (ii) (iii) the seller’s securities holder number; and the seller’s FIN; and the name of the public issuer of the securities being transferred; and the number of securities being transferred; and (iv) (v) any other information required by the Exchange: an electronic entry into the computer system controlling the public issuer’s register
 effected by the seller if the seller is a participant or effected by a participant who is a sharebroker authorised by the Exchange acting on behalf of the seller if the seller is not a participant,— (i) deleting the name of the registered holder of the securities, being— (A) (B) the name of the seller; or the name of a participant acting on behalf of the seller; or the name of the FASTER transfer account of a participant acting on behalf of the seller; and either (C) 5 Schedule Securities Transfer (Approval of
 FASTER System) Order 2001 Reprinted as at 1 December 2014 (ii) (iii) entering the buyer’s name as the registered holder of the securities; or entering, as the registered holder of the secur- ities,— (A) the name of a participant who is a share- broker authorised by the Exchange and who is acting on behalf of the buyer, to- gether with an indication that the secur- ities are held in the participant’s FASTER transfer account; or the name of the FASTER transfer account of the participant: (B) (f) if an entry is made under paragraph (e)(iii), an electronic entry into the computer system controlling the public is- suer’s register effected by a participant who is a share- broker authorised by the Exchange and who is acting on behalf of the buyer— (i) deleting, as the registered holder of the securities, the name of the participant or the name of the par- ticipant’s FASTER transfer account, as the case may be; and entering the buyer’s name as the registered holder of the securities: (ii) (g) the public issuer forwarding a securities holder’s state- ment to the buyer within 7 days after the transfer, or on the request of a securities holder if that securities holder has not received a securities holder’s statement within the last 6 months.
Schedule clause 2(c): amended, on 31 December 2002, by section 18(3) of the New Zealand Stock Exchange Restructuring Act 2002 (2002 No 1 (P)).

Schedule clause 2(e): amended, on 31 December 2002, by section 18(3) of the New Zealand Stock Exchange Restructuring Act 2002 (2002 No 1 (P)).

Schedule clause 2(e)(iii)(A): amended, on 31 December 2002, by section 18(3) of the New Zealand Stock Exchange Restructuring Act 2002 (2002 No 1 (P)).
Schedule clause 2(f): amended, on 31 December 2002, by section 18(3) of the New Zealand Stock Exchange Restructuring Act 2002 (2002 No 1 (P)).

Marie Shroff, Clerk of the Executive Council.

6 Reprinted as at 1 December 2014 Securities Transfer (Approval of FASTER System) Order 2001 Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 13 September 2001.
7 Notes Securities Transfer (Approval of FASTER System) Order 2001 Reprinted as at 1 December 2014 Reprints notes 1 2 3 General This is a reprint of the Securities Transfer (Approval of FASTER System) Order 2001 that incorporates all the amend- ments to that order as at the date of the last amendment to it.

Legal status Reprints are presumed to correctly state, as at the date of the reprint, the law enacted by the principal enactment and by any amendments to that enactment.
Section 18 of the Legislation Act 2012 provides that this reprint, published in electronic form, has the status of an official version under section 17 of that Act.

A printed version of the reprint produced directly from this official electronic version also has official status.

Editorial and format changes Editorial and format changes to reprints are made using the powers under sections 24 to 26 of the Legislation Act 2012.

See also http://www.pco.parliament.govt.nz/editorial-conven- tions/.
4 Amendments incorporated in this reprint Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70): section 150 New Zealand Stock Exchange Restructuring Act 2002 (2002 No 1 (P)): section 18(3) 12 8 Wellington, New Zealand: Published under the authority of the New Zealand Government—2014