1. Compliance
  2. Exemptions
  3. Current exemption notices
  4. Expired exemptions
  5. Securities Act (Authorised Futures Contracts)

Securities Act (Authorised Futures Contracts)

Name of noticeAuthorised Futures Contracts
Gazette Notification Date2002-09-19
Date In Force2002-10-01
SR Number2002/295
ActSecurities Act
TypeExemption Notice
Expiry Date2017-09-30

Securities Act (Authorised Futures Contracts) Exemption Notice 2002

This notices replaces the Securities Act (Authorised Futures Contracts) Exemption Notice 1997 (the 1997 notice). It carries forward the provisions of the 1997 notice without any change of substance, but with certain drafting changes which reflect current drafting practice.

Context

An authorised futures contract is a futures contract which is

  • made on or through an authorised futures exchange in New Zealand; or
  • made by a futures dealer authorised by the Securities Commission on or through an authorised futures exchange in another country; or
  • of a class in which a futures dealer has been authorised by the Securities Commission to deal.

Effects of the exemption

Authorised futures dealers are exempted from the prospectus and investment statement requirements and certain other requirements of the Act and the Regulations in respect of authorised futures contracts.

The exemption

Authorised futures dealers are exempted from sections 33(2) and (3), 37, 37A, 38A, and 51 to 54B of the Act and the regulations (except regulation 8) in respect of authorised futures contracts.

Reasons

The Commission reviewed the 1997 notice and received submissions from interested parties. The exemption in the 1997 notice was found to be relevant and useful. The exemption reflects current Commission policy.