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Privy Council Wellington
20 November; 16 December 1996
Lord Goff of Chieveley, Lord Griffiths, Lord Lloyd of Berwick, Lord Nicholls of Birkenhead and Lord Hope of Craighead
20 November; 16 December 1996
Lord Goff of Chieveley, Lord Griffiths, Lord Lloyd of Berwick, Lord Nicholls of Birkenhead and Lord Hope of Craighead
Commercial law — Securities Act 1978 — "Debt security" — Contract to repurchase town house units in retirement village — Whether transaction a "contributory scheme" — "Investment of money" — Whether transaction exempted as an ancillary term by Securities Act 1978, s 5(1)(b) — Securities Act 1978, ss 2(1) and 5(1)(b).