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Law to validate securities passed
Wednesday 14th of April 2004
Meanwhile investors who receive the penalty payment for voided allotments may get a tax bill for the privilege.
The law change – tacked onto the end of the Business Law Reform Bill – was put up by former Commerce Minister Lianne Dalziel as a way past draconian penalties in the Securities Act.Offshore-based funds are allowed an exemption from the normal Securities Act requirement to issue a pro...
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