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Takeovers Act 1993

Investigation and enforcement - Investigation and enforcement by Panel - Panel's powers of inspection

31C: Disclosure of information from inspection

You could also call this:

"Sharing information found during an inspection"

Illustration for Takeovers Act 1993

You can be asked to share information you found during an inspection. The Panel or Registrar will tell you to share this information with someone else. This is for certain purposes, like following the Takeovers Act 1993 or the Financial Markets Authority Act 2011. You might be asked to share information to help detect and prosecute offences. However, this information cannot be used in court against you or someone related to the information. You could also be asked to share information to help the Panel work with an overseas regulator, as stated in section 31P. The Minister can ask the Panel or Registrar to tell someone to share information. The Panel or Registrar must do this. The Panel can also ask the Registrar to tell someone to share information, and the Registrar must comply. This rule is affected by other parts of the law, like section 31X of the Takeovers Act 1993 and section 44 of the Financial Markets Authority Act 2011.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM326101.

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31BB: Requirements for persons authorised to inspect documents, or

"Who can look at important documents and what they need to show"

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31D: Powers not limited, or

"Other laws still apply even if the Takeovers Act says something different"

Part 3Investigation and enforcement
Investigation and enforcement by Panel: Panel's powers of inspection

31CDisclosure of information from inspection

  1. On the direction of the Panel or Registrar, a person who has made an inspection under section 31A must give all records and disclose all information acquired in the course of the inspection to any person specified by the Panel or Registrar for the purposes of—

  2. this Act, the Financial Markets Authority Act 2011, or any of the Acts listed in Schedule 1 of that Act:
    1. detecting and prosecuting offences against any enactments other than those referred to in paragraph (a), but, in this case, those records and information are not admissible in any criminal proceedings against the person from whom the records or information were acquired or any person to whom the records or information relate:
      1. assisting the Panel to comply with the request of an overseas regulator under section 31P or otherwise co-operate with an overseas regulator.

        1. The Minister may, by written notice, require the Panel or Registrar to give a direction under subsection (1), and the Panel or Registrar must comply with that requirement.

        2. Section 115 of the Crown Entities Act 2004 does not apply to that requirement.

        3. The Panel may, by written notice, require the Registrar to give a direction under subsection (1), and the Registrar must comply with that requirement.

        4. This section is subject to section 31X of this Act and to section 44 of the Financial Markets Authority Act 2011.

        Notes
        • Section 31C: replaced, on , by section 23 of the Takeovers Amendment Act 2002 (2002 No 45).
        • Section 31C(1)(a): replaced, on , by section 82 of the Financial Markets Authority Act 2011 (2011 No 5).
        • Section 31C(1)(b): amended, on , by section 82 of the Financial Markets Authority Act 2011 (2011 No 5).
        • Section 31C(2A): inserted, on , by section 200 of the Crown Entities Act 2004 (2004 No 115).
        • Section 31C(4): amended, on , by section 82 of the Financial Markets Authority Act 2011 (2011 No 5).