Meridian Global Funds Management Asia Ltd v Securities Commission - [1995] 3 NZLR 7

Commercial law — Securities Commission — Requirement of Securities Amendment Act 1988 for notice by substantial security holder — Appellant company became substantial security holder — Rules of attribution — Rules by which knowledge of company's agent could be attributed to company — Whether rules of attribution also implied by law — Circumstances in which rules of attribution excluded — Whether duty to notify affected by desire that employer remain ignorant of acquisition of relevant interest — Observations as to whether question affected by s 35 of the Securities Amendment Act 1988 — Securities Amendment Act 1988, ss 20 and 35.

Company law — Managers — Requirement of Securities Amendment Act 1988 for disclosure by substantial security holder — Appellant company became substantial security holder — Rules of attribution — Rules by which knowledge of company's officer could be attributed to company — Whether rules of attribution also implied by law — Circumstances in which rules of attribution excluded — Whether duty to notify affected by desire that employer remain ignorant of acquisition of relevant interest — Observations as to whether question affected by s 35 of the Securities Amendment Act 1988 — Securities Amendment Act 1988, ss 20 and 35.

Agency — Relationship with principal — Company investment manager — Requirement of Securities Amendment Act 1988 for disclosure by substantial security holder — Appellant company became substantial security holder — Rules of attribution — Rules by which knowledge of company's agent could be attributed to company — Whether rules of attribution also implied by law — Circumstances in which rules of attribution excluded — Whether duty to notify affected by desire that employer remain ignorant of acquisition of relevant interest — Observations as to whether question affected by s 35 of the Securities Amendment Act 1988 — Securities Amendment Act 1988, ss 20 and 35.