Securities Commission v Kiwi Co-operative Dairies Ltd - [1995] 3 NZLR 26

Commercial law — Securities Commission — Offer of securities to the public — Cooperative dairy company — Whether offer by co-operative dairy company to "supplying shareholders" inviting them to deposit funds with the company at interest was an "offer to the public" — Whether every supplying shareholder was a "close business associate" — Securities Act 1978, ss 2, 3, 25 and 33 — Companies Act 1955, ss 19 and 63 — Co-operative Dairy Companies Act 1949, s 2.