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Te utu kaituku whakatauranga-kore i whakaaetia Zero-rating approved issuer levy

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Criteria to qualify for zero-rating

To qualify for the zero rate on interest payments all the following must be met:

  • represented in New Zealand dollars
  • offered to the public in terms of section 3 of the Securities Act 1978
  • not be issued as a private placement
  • not be an asset-backed security
  • be conducted through a registry and paying agent with a fixed establishment in New Zealand
  • be listed on the stock exchange or satisfy a widely held test
  • be registered with us.

Meeting the widely-held test

To meet the widely-held test a security must:

  • be held by 100 separate persons who the issuer could reasonably assume are not associated at the time the test applies
  • have no person or group of associated persons holding a 10% or greater interest at the time of applying the test.