The following Securities Act class exemption notices came into force on 20 December 2011:  

  • Securities Act (Multiple Participants Superannuation Schemes) Exemption Notice 2011

This notice replaces the Securities Act (Multiple Participants Superannuation Schemes) Exemption Notice 1998 (the 1998 notice) which exempted superannuation trustees, employers, and certain other participants in multiple participant superannuation schemes from various provisions of the Securities Act and Securities Regulations. This notice is on substantially the same terms as the 1998 notice. However, the notice relates to the Securities Regulations 2009 (rather than the Securities Regulations 1983). In addition, certain changes have been made to clarify the terms and conditions of the notice.

  • Securities Act (Directors' Certificates—Collective Investment Schemes) Exemption Notice 2011

This notice exempts, subject to conditions, the issuers of certain collective investment schemes from section 37A(1A)(c)(i) of the Securities Act 1978. The notice relates to the certificate that may be registered that allows the date of allotment of securities to be more than 9 months after the date of the statement of financial position referred to in the prospectus. Section 37A(1A)(c)(i) requires the directors of the issuer to state in the certificate that the financial position shown in the statement of financial position has not materially and adversely changed during the period from the date of the statement of financial position to the date of the certificate.

The first part of the exemption, in clauses 6 and 7 of the notice, is substantially similar to the recently expired Securities Act (Directors' Certificates—Collective Investment Schemes) Exemption Notice 2009, and requires issuers to provide interim financial statements. However, this exemption, in clauses 6 and 7, can be used only in respect of renewal certificates registered with the Registrar of Financial Service Providers before 31 December 2011.

The second part of the exemption, in clauses 8 to 10 and the Schedule of the notice, is new and requires issuers to provide scheme performance information, scheme statistics, and director certifications. These new exemptions can be used in respect of renewal certificates registered with the Registrar of Financial Service Providers on or before 31 March 2013.

  • Securities Act (Translated Advertisements) Exemption Notice 2011

This notice applies where fewer than two directors of an issuer are fluent in the language in which an advertisement is distributed to the public. The effect of the exemption is to allow the directors of the issuer, or their authorised agents, to complete the advertisement certificate required by regulation 30(2) of the Securities Regulations 2009 if the directors or agents have read, seen, or listened to a translation of the advertisement.