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Centuria may offer certain investments that are only open to “Wholesale Investors” as defined in clause 3 of Schedule 1 of the Financial Markets Conduct Act 2013. To invest in these offers, a wholesale investor needs to fall within one of the categories listed below. If an offer is only open to wholesale investors, this will be clearly stated on the offer document.
In addition to government agencies, the following persons are considered to be a wholesale investor under the Financial Markets Conduct Act:
Further detail on the above categories is set out below.
A person who is an investment business:
In addition to banks, non-bank deposit takers, licensed insurers, licensed managers, derivatives issuers and financial advisers, this category encompasses entities whose principal business consists of any of the following:
A person who meets the investment activity criteria;
In counting financial products towards the $1 million threshold, bank deposits, bonus bonds, building society investments (and other similar investments) as well as interests in a retirement scheme (e.g. KiwiSaver or other superannuation scheme) cannot be counted. Any products offered by the investor’s associated persons are also excluded.
A person who is large;
As at the last day of the 2 most recently completed financial years, they and their controlled entities had net assets exceeding $5 million; or
A person who is an eligible investor:
Eligible investors are investors who self-certify that:
Their certificate must set out the grounds for the above certification.
In addition, a financial adviser, qualified statutory accountant or lawyer must sign a written confirmation of the above certification. That person must not sign the certificate, unless having considered the investor’s grounds for their certificate:
A person who invests at least NZ$750,000 in the offer.