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Binding Rulings on Securities Law
A Discussion Paper
WELLINGTON, NEW ZEALAND
7 June 2000
TABLE OF CONTENTS
- Invitation to Comment
- Background
- Examples Suitable for a Ruling
- New Zealand Association of Credit Unions
- Leveraging Securities - ABC Ltd
- Purpose of Binding Rulings Function
- Benefits
CHAPTER 3 BINDING RULINGS FUNCTION FOR THE COMMISSION
- Duration
CHAPTER 4 AMBIT OF BINDING RULINGS REGIME
- Matters that may be Appropriate for a Ruling
- When a Ruling would be Refused
- Administrative Matters
- Disclosure Requirements in Application
- Consultation
- Offer Documents
- Fees
CHAPTER 6 BINDING RULINGS AND THE COURT
- Appeals
- Commission and Registrar Still Bound
- Safe Harbour Provisions, Third Parties, and the Illegal Contracts Act
CHAPTER 8 A POSSIBLE ALTERNATIVE: EXEMPTIONS WHERE THE LAW IS IN DOUBT
- Advantages
- Disadvantages
APPENDIX: DISCUSSION QUESTIONS
The Securities Commission is an independent statutory body. Its functions include to keep under review the law relating to securities and to recommend changes it considers necessary. This discussion paper has been prepared in accordance with this function.
We invite public comment on the matters raised in this paper. Any comments or submissions received are subject to the Official Information Act 1982. It is the practice of the Commission to make submissions available on request and where appropriate to draw attention to them in any further paper.If you would like us to withhold information included in comments on this paper would you please let us know. Any request to withhold information will be considered in accordance with the Official Information Act 1982.
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