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Takeovers Act 1993

4: Object of this Act

You could also call this:

"What the Takeovers Act 1993 is trying to achieve"

Illustration for Takeovers Act 1993

The Takeovers Act 1993 has some main goals. You will see it is trying to set up a group called the Takeovers Panel. It also wants to make rules for takeovers of code companies. The Act aims to make sure these rules are followed. You will find it provides consequences for people who give false information about takeovers. It wants the Takeovers Panel to help people understand the law about takeovers. The Act also wants the Panel to work with regulators from other countries. You can learn more about the changes to this Act by looking at the Takeovers Amendment Act 2002 and the Takeovers Amendment Act 2010.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM325575.

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5: Establishment of Takeovers Panel, or

"Setting up a group to make decisions about takeovers"

4Object of this Act

  1. The object of this Act is to—

  2. establish a panel to be called the Takeovers Panel:
    1. empower the Minister, in consultation with the Panel, to formulate and make recommendations concerning the takeovers code (which sets out the rules applying to takeovers of code companies):
      1. provide for the administration and enforcement of the takeovers code:
        1. provide criminal liability for false or misleading statements or information in relation to takeovers of code companies:
          1. empower the Panel to keep under review, and promote public understanding of, the law relating to takeovers of code companies:
            1. empower the Panel to co-operate with overseas regulators.

              Notes
              • Section 4(a): amended, on , by section 5(1) of the Takeovers Amendment Act 2002 (2002 No 45).
              • Sections 4(b): replaced, on , by section 5(2) of the Takeovers Amendment Act 2002 (2002 No 45).
              • Section 4(b): amended, on , by section 5 of the Takeovers Amendment Act 2010 (2010 No 88).
              • Sections 4(c): replaced, on , by section 5(2) of the Takeovers Amendment Act 2002 (2002 No 45).
              • Section 4(ca): inserted, on , by section 5 of the Takeovers Amendment Act 2006 (2006 No 48).
              • Section 4(ca): amended, on , by section 5 of the Takeovers Amendment Act 2010 (2010 No 88).
              • Sections 4(d): replaced, on , by section 5(2) of the Takeovers Amendment Act 2002 (2002 No 45).
              • Section 4(d): amended, on , by section 5 of the Takeovers Amendment Act 2010 (2010 No 88).
              • Sections 4(e): replaced, on , by section 5(2) of the Takeovers Amendment Act 2002 (2002 No 45).