Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698841064849.pdf (New Zealand)
Reprint as at 31 December 2002 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.
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 order is administered by the Ministry of Economic Development.
1 Securities Transfer (Approval of FASTER System) Order 2001 Reprinted as at 31 December 2002 Contents Title Commencement Interpretation Approval of system for electronic transfer of securities Revocation Schedule Description of FASTER system Page 2 2 2 2 2 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 Securities Transfer Act 1991.

Approval of system for electronic transfer of securities 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 securities.
Clause 4: amended, on 31 December 2002, by section 18(3) of the New Zealand Stock Exchange Restructuring Act 2002 (2002 No 1 (P)).

Revocation The Securities Transfer (Approval of FASTER System) Order 1998 (1998/83) is revoked.
Reprinted as at 31 December 2002 Securities Transfer (Approval of FASTER System) Order 2001 Schedule Description of FASTER system Schedule cl 4 1 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 securities within the meaning of section 2 of the Securities Transfer Act 1991 that are— quoted by the Exchange; and (a) approved by the Exchange for transfer through the (b) FASTER system a listing agreement; or a securities transfer
 services agreement securities holder’s statement means a statement issued to a holder of securities by a public issuer that includes the follow- ing details: (a) that person’s securities holder number; and 3 Schedule Securities Transfer (Approval of FASTER System) Order 2001 Reprinted as at 31 December 2002 the name of the public issuer; and the number of securities held by that person; and the class of securities held by that person (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 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- 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- (b) (c) 2 4 Reprinted as at 31 December 2002 Securities Transfer (Approval of FASTER System) Order 2001 Schedule (ii) (iii) (iv) 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: (d) (e) 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) (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- 5 (f) Securities Transfer (Approval of FASTER System) Order 2001 Reprinted as at 31 December 2002 ities are held in the participant’s FASTER transfer account; or the name of the FASTER transfer account of the participant: (B) 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.

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

Date of notification in Gazette: 13 September 2001.
6 Reprinted as at 31 December 2002 Securities Transfer (Approval of FASTER System) Order 2001 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 Transfer (Approval of FASTER System) Order 2001.
The reprint incorporates all the amendments to the order as at 31 December 2002, as specified in the list of amendments at the end of these notes.

Relevant provisions of any amending enactments that have yet to come into force or that contain relevant transitional or savings provisions are also included, after the principal enact- ment, 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, 7 Notes Securities Transfer (Approval of FASTER System) Order 2001 Reprinted as at 31 December 2002 see http://www.pco.parliament.govt.nz/editorial-conventions/ 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) • • • • • 4 8 Reprinted as at 31 December 2002 Securities Transfer (Approval of FASTER System) Order 2001 Notes • • • • • • punctuation (eg, colons are not used after definitions) 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) New Zealand Stock Exchange Restructuring Act 2002 (2002 No 1 (P)): section 18(3) 5 12 Wellington, New Zealand: Published under the authority of the New Zealand Government—2009 9