31 MARCH 2011 NEW ZEALAND GAZETTE, No. 41 995

management whether in New Zealand or elsewhere; and

(vi) if any director or member of the senior management leaves the Company or if any new director or member of senior management is appointed to the Company.

4. Further conditions relating to disclosure documents—

(1) The disclosure document must include information that would enable a prudent but non-expert investor to make a decision about whether to invest in a specified futures contract of that class.

(2) The disclosure document must include at the front of the disclosure document a statement describing a clients’ right under the Act to receive investment advisers’ disclosure from any person who gives the client investment advice in relation to the specified futures contract.

(3) The disclosure document must remain up to date and continue to comply with clause 4 at all times, and may be amended by the Company at any time for this purpose.

(4) The disclosure document must state, in a prominent place, the date as at which the disclosure document was prepared, and the date of every amendment that has been made to that disclosure document.

(5) The disclosure document must contain all of the following information that is applicable to the class or classes of specified futures contracts to which the disclosure document relates, and must continue to contain all of the following information at the time the specified futures contract is entered into:

(a) A description of the key terms and features of that class or those classes of specified futures contracts;

(b) the name and contact details of the Company;

(c) a description of the amounts payable, or the method of calculating the amounts payable, by a person to the Company in respect of that class or those classes of specified futures contracts, including the consequences of failing to make any payments;

(d) a description of the amounts, or the method of calculating the amounts, of any margins, including initial margins and variation margins, payable by a person to the Company in respect of that class or those classes of specified futures contracts, including the consequences of failing to pay any margin;

(e) a description of the treatment of margins, including initial margins and variation margins, payable by a person to the Company in respect of that class or those classes of specified futures contracts;

(f) a description of the types of fees or charges payable by a person, directly or indirectly, to the Company in respect of that class or those classes of specified futures contracts;

(g) a description of the rights of the Company or any other person to alter any of the fees or charges applicable to that class or those classes of specified futures contracts;

(h) a description of the nature of any amounts or returns that may be payable, or the method of calculating any amounts or returns that may be payable, by the Company to a person in respect of that class or those classes of specified futures contracts;

(i) a description of the key factors that determine the amounts or returns that may be payable by the Company to a person in respect of that class or those classes of specified futures contracts;

(j) a description of the principal risks associated with entering into that class or those classes of specified futures contracts, including any specific risk factors that apply to any one or more of the particular specified futures contracts;

(k) if it is reasonably foreseeable that, at the end of the arrangement relating to that class or those classes of specified futures contracts, a person will have received, in total, less than the amount paid to the Company for the specified futures contracts, a statement to this effect and a brief description of the circumstances that may produce this result;

(l) a description of the parties’ rights to alter the terms of that class or those classes of specified futures contracts;

(m) a description of the parties’ rights to terminate, cancel, surrender, or otherwise make or obtain payment of any amounts or returns in respect of that class or those classes of specified futures contracts, other than as described in paragraphs (h) and (i);

(n) a statement as to whether a person is entitled to sell his or her interest in a specified futures contract to another person and, if so, whether in the opinion of the Company there is an established market for such sales;

(o) a description of the treatment of client money or property received, held or otherwise dealt with in connection with dealing in specified futures contracts, other than as described in paragraph (e);

(p) the names or descriptions, and the addresses and business telephone numbers, of officers, employees, or agents of the Company to whom enquiries about the specified futures contracts can be made, and to whom complaints about the specified futures contracts can be made;

(q) a statement to the effect that other information about the Company is contained or referred to in financial statements of, or relating to, the Company and where a copy of the latest financial statements may be obtained from;

(r) a statement of the type of information that is required to be, or otherwise will be, given to clients periodically;

(s) a statement describing the type of information that is required to be, or otherwise will be, available on request from the Company, and a statement explaining how a request for this information should be made;

(t) a statement whether any charge may be made for the information referred to in paragraph (s) and the amount of any charge; and

(u) any other material matters applicable to that class or those classes of specified futures contracts.

(6) If a matter specified in clause 4(5) is not applicable to the class or classes of specified futures contracts to which a disclosure document relates, the disclosure document is not required to refer to that matter, and is not required to state that the matter is not applicable.

(7) Nothing in clause 4(5) limits the information, statements, or other matters that may be contained in a disclosure document.

Dated at Wellington this 29th day of March 2011.

The Common Seal of the Securities Commission was affixed in the presence of:

[L.S.]

JANE DIPLOCK AO, Chairperson.