Takeovers Act 1993

Investigation and enforcement - Investigation and enforcement by Panel - Panel's power to accept undertakings

31T: Panel may accept undertakings

You could also call this:

"The Panel can accept a written promise from you to do something."

Illustration for Takeovers Act 1993

The Panel can accept a written promise from you or someone acting for you. This promise is about something the Panel is looking at under the Takeovers Act 1993 or another Act. You can change or withdraw your promise if the Panel agrees. The Panel has the power to accept your promise when it is doing its job or using its powers. You give the promise in writing and it is about a matter the Panel is dealing with. The Panel's decision to accept your promise is important. You can withdraw or change your promise with the Panel's consent. This means you need to ask the Panel if you can change or withdraw your promise. The Panel will then decide if it agrees to your request.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM326166.

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"Promise needed before sharing information with overseas regulators"


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31U: Enforcement of undertakings, or

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Part 3Investigation and enforcement
Investigation and enforcement by Panel: Panel's power to accept undertakings

31TPanel may accept undertakings

  1. The Panel may accept a written undertaking given by, or on behalf of, a person in connection with a matter in relation to which the Panel is exercising any of its powers or performing any of its functions under this Act or any other Act.

  2. The person may withdraw or vary the undertaking with the consent of the Panel.

Notes
  • Section 31T: inserted, on , by section 33 of the Takeovers Amendment Act 2002 (2002 No 45).