The board found the advertisement was also misleading, as the likely message that vaccination was not safe wasn't "sufficiently substantiated" by the advertiser, its advertisement "unjustifiably played on fear", and was "socially irresponsible".
The board upheld the complaints, finding the advertisement in breach of several rules of its code of ethics.
Waves NZ argued it could see no reason why the advertisement breaches the ASA's code of ethics, claiming its intention was to promote "informed consent" and to point parents toward MedSafe data sheets on its website.
Despite this, Waves NZ said it planned to appeal the decision saying "the public has the right to access information about vaccine ingredients. Waves NZ asserts that the implied risk is easily verified".
"Waves NZ encourages all people to read the accompanying data sheets and investigate for themselves what is in a vaccine before they make a choice and give consent.
"Waves NZ sincerely thanks Aotearoa for the support they have shown the group since October 1, when the billboard was installed near a busy motorway on-ramp."