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Takeovers Act 1993

Takeovers code

19: Power to make takeovers code

You could also call this:

"The Governor-General can make rules for when companies take over others."

Illustration for Takeovers Act 1993

The Governor-General can make rules about takeovers of code companies, and these rules are called a takeovers code. You can think of a takeovers code as a set of rules that apply to takeovers of certain companies. The Minister must follow the rules in this part of the law when making recommendations about the takeovers code. The Minister's recommendations are used to make the takeovers code. The Governor-General makes the final decision by Order in Council. The takeovers code is a type of secondary legislation, which means it is made under an Act of Parliament, and you can find out more about publication requirements for secondary legislation in Part 3 of the Legislation Act 2019.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM325852.

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"Extra rules for the Takeovers Panel"

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20: Objectives of takeovers code, or

"What the takeover rules aim to achieve"

Part 2Takeovers code

19Power to make takeovers code

  1. The Governor-General may, by Order in Council made on the recommendation of the Minister, make regulations setting out the rules applying to takeovers of code companies (a takeovers code).

  2. The Minister must formulate and make his or her recommendations in accordance with this Part.

  3. Regulations under this section are secondary legislation (see Part 3 of the Legislation Act 2019 for publication requirements).

Notes
  • Section 19: replaced, on , by section 16 of the Takeovers Amendment Act 2002 (2002 No 45).
  • Section 19(1): amended, on , by section 8 of the Takeovers Amendment Act 2010 (2010 No 88).
  • Section 19(3): inserted, on , by section 3 of the Secondary Legislation Act 2021 (2021 No 7).