The Companies Office has revised its proposed prospectus registration process following consultation.
The Companies Office will continue to do its best to register all prospectuses and other securities documents it receives on the date of receipt.
It is guaranteeing same day registrations for electronic documents uploaded before 3pm and for hard copy documents submitted before 1pm.
Documents received outside those times, will be processed that day if possible and – if not – by the end of the following working day.
The new timeframes are much improved on the original hard cut-off points proposed by the Companies Office (which were 12 pm for electronic applications and a three day turnaround for hard copies).
Hard copies will be deliverable only in Auckland.
We welcome the changes and consider that they meet our concerns.
For further information, please contact the lawyers featured.