Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


FMCA Regulations - Cabinet decisions released

FMCA Regulations - Cabinet decisions released

In our FMCA update of 24 July, we indicated that further Cabinet decisions were to be made on the final policy decisions for FMC Regulations.

The Cabinet decisions have now been released and are available here.

Decisions include:

• confirming the most recent proposals on fixed page lengths for the PDS

• confirming the PDS for debt and equity to include:
- three years of summary financial information prepared under GAAP
- two years of prospective financial information - unless it would be misleadingto do so

• allowing summaries of material contracts to be placed on the online register instead of the full material contract

• confirming the requirement for debt offers to contain a diagram illustrating ranking – this has recently become a market practice

• clarifying the obligations of auditors to report to supervisors

• allowing securities market operators (other than NZX) an extra year to obtain a licence (for example, Unlisted)

• allowing derivative issuers until 1 May 2015 to adopt the new PDS requirements (or 1 December 2015 if offer documents are already required by their licence), and

• allowing until 1 December 2015 for derivative issuers to adopt new investor fund custodian requirements.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Oceans: NOAA Declares Third Ever Global Coral Bleaching Event

As record ocean temperatures cause widespread coral bleaching across Hawaii, NOAA scientists confirm the same stressful conditions are expanding to the Caribbean and may last into the new year, prompting the declaration of the third global coral bleaching event ever on record. More>>

Scoop Business: A Decade Of Government Pre-Seed Investment

More publicly-funded science is being commercialised after a decade of government ‘pre-see’d investment, according to an independent review. More>>


Solid Energy: Plan To Shut Unprofitable Huntly East Mine

Solid Energy, the state-owned coal miner in voluntary administration, plans to shut down its unprofitable Huntly East mine and lay off 65 staff after deciding the site stands "no chance whatsoever" of finding a buyer. More>>


E Tū: Merger Creates NZ's Biggest Private Sector Union

E tū has been created by the merger of the Engineering, Printing and Manufacturing Union and Service and Food Workers’ Union. It represents more than 50,000 working New Zealanders in industries as diverse as aviation, construction, journalism, food manufacturing, mining and cleaning. More>>


Internet: NZ Govt Lifts Target Speeds For Rural Broadband

The government has lifted its expectations on faster broadband speeds for rural New Zealand as it targets increased spending on research and development in the country's information and communications technology sector, which it sees as a key driver for export growth. More>>


Banks: Westpac Keeps Core Government Transactions Contract

The local arm of Westpac Banking Corp has kept its contract with the New Zealand government to provide core transactions, but will have to share peripheral services with its rivals. More>>


Science Investment Plan: Universities Welcome Statement

Universities New Zealand has welcomed the National Statement of Science Investment released by the Government today... this is a critical document as it sets out the Government’s ten-year strategic direction that will guide future investment in New Zealand’s science system. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news