Futures Contracts (Macquarie Bank Limited Options) Notice 2003
Futures Contracts (Macquarie Bank Limited Options) Notice 2003: revoked, on 1 December 2014, pursuant to section 4(1)(b) of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70).
Version as at 1 December 2014
Futures Contracts (Macquarie Bank Limited Options) Notice 2003
(SR 2003/155)
Futures Contracts (Macquarie Bank Limited Options) Notice 2003: revoked, on 1 December 2014, pursuant to section 4(1)(b) of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70).
Note
The Parliamentary Counsel Office has made editorial and format changes to this version using the powers under subpart 2 of Part 3 of the Legislation Act 2019.
Note 4 at the end of this version provides a list of the amendments included in it.
This notice is administered by the Financial Markets Authority.
Pursuant to section 37(7) of the Securities Markets Act 1988, the Securities Commission gives the following notice.
Notice
1 Title
This notice is the Futures Contracts (Macquarie Bank Limited Options) Notice 2003.
2 Commencement
This notice comes into force on the day after the date of its notification in the Gazette.
3 Interpretation
(1)
In this notice, unless the context otherwise requires,—
Act means the Securities Markets Act 1988
MBL means Macquarie Bank Limited
MSPIL means Macquarie Structured Products (International) Limited
quoted securities means securities quoted on a market operated by New Zealand Exchange Limited.
specified option means an option agreement to acquire or dispose of quoted securities—
(a)
to which MBL is a party; and
(b)
under the terms of which it is contemplated or understood that the obligations of the parties may be satisfied other than by actual delivery of quoted securities; and
(c)
that is offered to persons in New Zealand by MSPIL in accordance with the terms of the Authorised Futures Dealers Notice (No 2) 2003
(2)
Any term or expression that is defined in the Act and used, but not defined, in this notice has the meaning given to it by the Act.
4 Application of Part 3 of Act to MBL options
Every specified option is declared to be an option to which Part 3 of the Act applies.
Dated at Wellington this 1st day of July 2003.
The Common Seal of the Securities Commission was affixed in the presence of:
[Seal]
F R S Clouston,
Member.
Explanatory note
This note is not part of the notice, but is intended to indicate its general effect.
This notice declares options to acquire or dispose of quoted securities (as that term is defined) that are offered by Macquarie Structured Products (International) Limited (MSPIL) to be options to which Part 3 of the Securities Markets Act 1988 applies. The options must be offered in accordance with the Authorised Futures Dealers Notice (No 2) 2003, a Gazette notice that authorises MSPIL to deal in futures contracts to which Macquarie Bank Limited is a party, provided certain conditions are met, such as criteria as to the assets and experience of the counterparty to the contract.
The term futures contract is defined by section 37(1) of the Securities Markets Act 1988 to include an option declared by the Securities Commission to be an option to which Part 3 of the Act applies.
Under section 38 of that Act, no person may deal in futures contracts unless that person is a member of an authorised futures exchange or is authorised by the Securities Commission to carry on the business of dealing in futures contracts.
Date of notification in Gazette: 3 July 2003.
Notes
1 General
This is a consolidation of the Futures Contracts (Macquarie Bank Limited Options) Notice 2003 that incorporates the amendments made to the legislation so that it shows the law as at its stated date.
2 Legal status
A consolidation is taken to correctly state, as at its stated date, the law enacted or made by the legislation consolidated and by the amendments. This presumption applies unless the contrary is shown.
Section 78 of the Legislation Act 2019 provides that this consolidation, published as an electronic version, is an official version. A printed version of legislation that is produced directly from this official electronic version is also an official version.
3 Editorial and format changes
The Parliamentary Counsel Office makes editorial and format changes to consolidations using the powers under subpart 2 of Part 3 of the Legislation Act 2019. See also PCO editorial conventions for consolidations.
4 Amendments incorporated in this consolidation
Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70): section 4(1)(b)