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Takeovers Act 1993

Takeovers Panel

15B: Sharing of information and documents with Commerce Commission

You could also call this:

"Sharing information to help companies and consumers"

Illustration for Takeovers Act 1993

The Takeovers Panel can share information and documents with the Commerce Commission. You can think of the Takeovers Panel like a group that helps make sure companies are treated fairly when they are being taken over. The Commerce Commission is another group that makes sure businesses are fair to consumers. The Panel can share information that will help the Commerce Commission do its job, especially when it comes to the Fair Trading Act 1986. The Commerce Commission can also share information with the Takeovers Panel, and the Panel can use this information to help it make decisions. This can happen even if there are contracts or documents that say otherwise. The Takeovers Panel and the Commerce Commission have to follow the law, and sharing information does not affect the Privacy Act 2020. The Panel can use information from the Commerce Commission that it gets under section 99AA of the Commerce Act 1986.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM325842.

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Topics:
Money and consumer rights > Consumer protectionMoney and consumer rights > Fair tradingBusiness > Industry rulesBusiness > Fair trading
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15A: Sharing of information and documents with FMA, or

"The Takeovers Panel can share information with the Financial Markets Authority to help them do their job."

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15C: Sharing of information and documents with licensed market operators, or

"The Takeovers Panel can share information with market operators to help them do their job."

Part 1Takeovers Panel

15BSharing of information and documents with Commerce Commission

  1. The Panel may provide to the Commerce Commission any information, or a copy of any document, that the Panel—

  2. holds in relation to the exercise of the Panel's powers, or the performance of its functions and duties; and
    1. considers may assist the Commerce Commission in the exercise of the Commerce Commission's powers, or the performance of its functions and duties, in respect of the Fair Trading Act 1986.

      1. The Panel may use any information, or a copy of any document, provided to it by the Commerce Commission under section 99AA of the Commerce Act 1986 in the Panel's exercise of its powers, or the performance of its functions and duties.

      2. This section applies despite anything to the contrary in any contract, deed, or document.

      3. Nothing in this section limits the Privacy Act 2020.

      Notes
      • Section 15B: replaced, on , by section 82 of the Financial Markets Authority Act 2011 (2011 No 5).
      • Section 15B(2): amended, on , by section 46(2) of the Commerce Amendment Act 2022 (2022 No 11).
      • Section 15B(4): amended, on , by section 217 of the Privacy Act 2020 (2020 No 31).