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Sale and Supply of Alcohol Act 2012

Sale and supply of alcohol generally - Licensing generally, requirements on licensees, and conditions - Miscellaneous licensing provisions

70: Notification of licensing authority by beneficial owner of shares of changes in shareholding

You could also call this:

“Tell the licensing authority if you buy or sell shares in an alcohol-licensed company”

If you own shares in a company that has a licence to sell alcohol, you need to tell the licensing authority if your shareholding changes. You must do this if you now own at least 20% of the shares in the company. You have to give the licensing authority this information within 10 working days of finding out about the change in your shareholding. If you do not tell the licensing authority about the change, you can get a fine of up to $10,000.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3339552.

Topics:
Money and consumer rights > Consumer protection Business > Industry rules
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69: Notification of licensing authority by company of changes in company shareholding or name, or

"Tell the licensing authority if your alcohol-licensed company's owners or name change"

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71: Notification of Police, or

"Telling the police about licence changes"

Part 2 Sale and supply of alcohol generally
Licensing generally, requirements on licensees, and conditions: Miscellaneous licensing provisions

70Notification of licensing authority by beneficial owner of shares of changes in shareholding

  1. Any person on whose behalf any shares are held by any other person in any company that holds a licence must notify the secretary of the licensing authority if, after the licence is issued to the company, the number of shares held changes so that the shareholding reaches at least 20% of the shares, or of any particular class of the shares, issued by the company.

  2. The notice must be given within 10 working days after the person required to give it becomes aware that the number of shares has reached at least 20% of the shares, or of any particular class of the shares, issued by the company.

  3. If a person required to give a notice under subsection (1) fails to comply with subsection (1) or (2), he or she commits an offence and is liable on conviction to a fine not exceeding $10,000.

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