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Takeovers Act 1993

Investigation and enforcement - Investigation and enforcement by Panel - Offences

31F: Offences

You could also call this:

"Breaking the Law: What Happens if You Don't Follow the Rules"

Illustration for Takeovers Act 1993

You commit an offence if you refuse or fail to produce a document for inspection when required to do so under section 31A. You also commit an offence if you wilfully resist or obstruct the Panel or Registrar, or any person authorised by them, in carrying out an inspection under section 31A. If you are not authorised to do so, you commit an offence if you wilfully communicate information acquired during an inspection under section 31A to any other person. You commit an offence if you wilfully contravene section 31E. If you commit any of these offences, you can be liable for a fine of up to $300,000. If the offence continues, you can be liable for a further fine of up to $10,000 for every day or part of a day the offence continues. If you commit an offence against these rules, you will be punished according to the law.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM326118.

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Topics:
Crime and justice > Criminal law
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Part 3Investigation and enforcement
Investigation and enforcement by Panel: Offences

31FOffences

  1. Every person commits an offence who—

  2. refuses or fails, without reasonable excuse, to produce any document for inspection, or reproduce or assist in reproducing, in usable form, information recorded in that document, when required to do so under section 31A; or
    1. wilfully resists or obstructs, or deceives or attempts to deceive, the Panel or Registrar, or any person authorised by the Panel or Registrar, in carrying out an inspection under section 31A; or
      1. is not the Panel, the Registrar, or a person authorised by the Panel or Registrar to carry out an inspection under section 31A and who wilfully communicates to any other person information acquired in the course of an inspection under that section; or
        1. wilfully contravenes section 31E.

          1. Every person who commits an offence against subsection (1) is liable on conviction to a fine not exceeding $300,000 and, if the offence is a continuing one, to a further fine not exceeding $10,000 for every day or part of a day during which the offence is continued.

          Notes
          • Section 31F: replaced, on , by section 28 of the Takeovers Amendment Act 2002 (2002 No 45).
          • Section 31F(2): amended], on , by section 413 of the Criminal Procedure Act 2011 (2011 No 81).