2015 legislation ensures KiwiSaver providers are not at risk of breaching securities law for documents that had already been issued or issued before 1 June 2015.

Section 239 of the KiwiSaver Act 2006

The Taxation (KiwiSaver HomeStart and Remedial Matters) Act 2015 made changes to the KiwiSaver Act 2006 on 1 April 2015. Section 239 ensures that KiwiSaver providers are not at risk of being in breach of securities law for documents that had already been issued or issued before 1 June 2015.

Key features

Prospectuses and investment statements issued under the Securities Act 1978 will not have to reflect the changes made by the Taxation (KiwiSaver HomeStart and Remedial Matters) Act 2015 if they were issued before 1 June 2015.

Product disclosure statements issued under the Financial Markets Conduct Act 2013 and lodged before 1 June will not have to be updated to reflect the changes made in the Taxation (KiwiSaver HomeStart and Remedial Matters) Act 2015 until 1 April 2016.

Application date

The amendment came into force on 1 April 2015.