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Takeovers Act 1993

Takeovers Panel

11: Protection from liability for Panel and members, officers, and employees

You could also call this:

"People working with the Takeovers Panel are protected from being sued."

Illustration for Takeovers Act 1993

You are protected when you work with the Takeovers Panel. The Panel and its members, officers, and employees cannot be sued for things they do or do not do, unless they act without care or in bad faith. If you are a member, officer, or employee of the Panel, you are also protected from being sued, unless you act in bad faith, and this protection does not apply to certain offences under the Crimes Act 1961, such as those against section 78 or section 78AAA or section 78AAB or section 78AA or section 78A or section 105 or section 105A.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM325821.

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Part 1Takeovers Panel

11Protection from liability for Panel and members, officers, and employees

  1. No proceedings, civil or criminal, shall lie against the Panel for anything it may do or fail to do in the course of the exercise or intended exercise of its functions, unless it is shown that the Panel acted without reasonable care or in bad faith.

  2. No proceedings, civil or criminal, lie against any member of the Panel, or any officer or employee of the Panel, or any member of a committee of the Panel, for anything that person may do or say or fail to do or say in the course of the operations of the Panel, unless it is shown by the Panel that the person acted in bad faith.

  3. Nothing in subsections (1) and (2) applies in respect of proceedings for—

  4. an offence against section 78 or section 78AAA or section 78AAB or section 78AA or section 78A or section 105 or section 105A of the Crimes Act 1961; or
    1. the offence of conspiring to commit an offence against section 78 or section 78AAA or section 78AAB or section 78AA or section 78A or section 105 or section 105A of the Crimes Act 1961; or
      1. the offence of attempting to commit an offence against section 78 or section 78AAA or section 78AAB or section 78AA or section 78A or section 105 or section 105A of the Crimes Act 1961.

        1. Section 59(3) of the Crown Entities Act 2004 (which provides that a statutory entity may bring an action against a member for breach of an individual duty) does not apply, unless it is shown that the person acted in bad faith.

        2. Sections 122 to 126 of the Crown Entities Act 2004 apply as if the conduct for which a person may be indemnified or insured under those sections were conduct that is covered by the protection from liability in this section.

        3. This section contains an exception to section 121 of the Crown Entities Act 2004.

        4. Repealed

        5. Repealed

        6. Repealed

        7. Repealed

        8. Repealed

        9. Repealed

        10. For the purposes of clause 3 of Part 2 of Schedule 1 of the Defamation Act 1992, any statement, document, determination, order, or decision made by the Panel in the exercise or intended exercise of any of its functions or powers shall be deemed to be an official report made by a person holding an inquiry under the authority of the Parliament of New Zealand.

        11. Repealed
        Compare
        Notes
        • Section 11 heading: replaced, on , by section 13(1) of the Takeovers Amendment Act 2002 (2002 No 45).
        • Section 11(2): replaced, on , by section 200 of the Crown Entities Act 2004 (2004 No 115).
        • Section 11(3)(a): amended, on , by section 17 of the Crimes (Countering Foreign Interference) Amendment Act 2025 (2025 No 71).
        • Section 11(3)(b): amended, on , by section 17 of the Crimes (Countering Foreign Interference) Amendment Act 2025 (2025 No 71).
        • Section 11(3)(c): amended, on , by section 17 of the Crimes (Countering Foreign Interference) Amendment Act 2025 (2025 No 71).
        • Section 11(3A): inserted, on , by section 200 of the Crown Entities Act 2004 (2004 No 115).
        • Section 11(3B): inserted, on , by section 200 of the Crown Entities Act 2004 (2004 No 115).
        • Section 11(3C): inserted, on , by section 200 of the Crown Entities Act 2004 (2004 No 115).
        • Section 11(4): repealed, on , by section 13(3) of the Takeovers Amendment Act 2002 (2002 No 45).
        • Section 11(5): repealed, on , by section 13(3) of the Takeovers Amendment Act 2002 (2002 No 45).
        • Section 11(6): repealed, on , by section 13(3) of the Takeovers Amendment Act 2002 (2002 No 45).
        • Section 11(7): repealed, on , by section 13(3) of the Takeovers Amendment Act 2002 (2002 No 45).
        • Section 11(8): repealed, on , by section 13(3) of the Takeovers Amendment Act 2002 (2002 No 45).
        • Section 11(9): repealed, on , by section 13(3) of the Takeovers Amendment Act 2002 (2002 No 45).
        • Section 11(11): repealed, on , by section 200 of the Crown Entities Act 2004 (2004 No 115).