New Zealand Commerce Minister Lianne Dalziel and Senator the Hon Nick Sherry, Australian Minister for Superannuation and Corporate Law, today welcomed the entry into force of a landmark agreement between Australia and New Zealand that will smooth the way for businesses to raise capital and for the public to invest with greater ease in both countries.
The Mutual Recognition of Securities Offerings regime, launched today by both Ministers at a meeting at the New Zealand Parliament, allows for the same securities offerings document to be issued in both countries. The Australia-New Zealand approach is considered to be world leading in this area.
Under the regime, issuers can extend an offer that is being lawfully made in either Australia or New Zealand to investors in the other country without being required to fulfil additional requirements that would make the process financially prohibitive.
Please see Beehive media release: World first in comprehensive mutual recognition of securities offerings [external website].
Please see Securities Commission media release and guide:
Media release: Australian and New Zealand Securities Commissions Welcome New Regime for Trans-Tasman Securities Offerings [external website].
Guide: Offering Securities In New Zealand And Australia Under Mutual Recognition [external website].