Securities report due soon
,PA .' Wellington The second draft of the Securities Commission’s’ proposals for securities regulations will be’ available from the Government Bookshop in about 10 days. The 100-page document includes draft regulations relating to prospectuses for equity, debt, and participatory securities, advertising of offers of securities, clauses to be implied in trust deeds, and matters which could be specified in deeds of participation. . The Commission’s chairman (Mr C. I. Patterson) said that major changes included; • Provision for unaudited interim accounts to supplement audited accounts. • A short-term prospectus to be used by existinng security holders when certain equity and debt securities are offered.
• Separate specification, of the prospectus requirements for offers of debt and equity securities. ■ • Expanded prospectus requirements for offers of participatory securities. • Changes in some accounting requirements. People wanting to make submissions are required to notify the Commission before November 30.
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Press, 3 November 1981, Page 18
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144Securities report due soon Press, 3 November 1981, Page 18
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