Plain language law

New Zealand law explained for everyone

Takeovers Act 1993

Investigation and enforcement - Investigation and enforcement by Panel - Enforcement of takeovers code by Panel

33: Temporary restraining orders

You could also call this:

"A court order to stop someone doing something that breaks the takeovers rules"

Illustration for Takeovers Act 1993

You can get a temporary restraining order to stop someone from doing certain things. This order can stop a person from buying or selling financial products in a company. It can also stop them from voting with those financial products. You can get an order to stop a person from taking any action that breaks the takeovers code, as defined in section 2(2). The order can tell a company not to pay out for financial products or not to register a transfer of those products. It can also tell the company not to give financial products to someone. The order can direct a person to do or not do something to make sure they follow the order. This is to ensure the person complies with the temporary restraining order.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM326189.

This page was last updated on — View changes

Topics:
Money and consumer rights > Consumer protectionBusiness > Industry rules
Previous

32: Panel's powers in respect of compliance with takeovers code, or

"The Panel's job is to ensure people follow the takeovers code and can stop them if they don't."

Next

33AA: Permanent compliance orders, or

"A court order to make someone follow the takeovers rules all the time."

Part 3Investigation and enforcement
Investigation and enforcement by Panel: Enforcement of takeovers code by Panel

33Temporary restraining orders

  1. For the purposes of section 32, a temporary restraining order is an order for 1 or more of the following:

  2. restraining a person from acquiring financial products in the code company concerned or any interest in or rights relating to such financial products:
    1. restraining a person from disposing of financial products in the code company concerned or any interest in or rights relating to such financial products:
      1. restraining a person from exercising the right to vote attaching to financial products in the code company concerned or any other right relating to such financial products:
        1. restraining a person from taking any action (including from making any statement or distributing any document) that is or that may reasonably be expected to constitute a contravention of the takeovers code (see section 2(2) for the definition of contravention of the takeovers code):
          1. directing the code company concerned not to make any payments in respect of any financial products:
            1. directing the code company concerned not to register the transfer or transmission of any financial products:
              1. directing the code company concerned not to issue or allot financial products to any person:
                1. for the purpose of securing compliance with any such order, an order directing a person to do or refrain from doing a specified act.

                  Notes
                  • Section 33 heading: amended, on , by section 12(1) of the Takeovers Amendment Act 2006 (2006 No 48).
                  • Section 33: amended, on , by section 12(2) of the Takeovers Amendment Act 2006 (2006 No 48).
                  • Section 33(a): amended, on , by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70).
                  • Section 33(a): amended, on , by section 13 of the Takeovers Amendment Act 2010 (2010 No 88).
                  • Section 33(b): amended, on , by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70).
                  • Section 33(b): amended, on , by section 13 of the Takeovers Amendment Act 2010 (2010 No 88).
                  • Section 33(c): amended, on , by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70).
                  • Section 33(c): amended, on , by section 13 of the Takeovers Amendment Act 2010 (2010 No 88).
                  • Section 33(d): replaced, on , by section 12(3) of the Takeovers Amendment Act 2006 (2006 No 48).
                  • Section 33(e): amended, on , by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70).
                  • Section 33(e): amended, on , by section 13 of the Takeovers Amendment Act 2010 (2010 No 88).
                  • Section 33(f): amended, on , by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70).
                  • Section 33(f): amended, on , by section 13 of the Takeovers Amendment Act 2010 (2010 No 88).
                  • Section 33(g): amended, on , by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70).
                  • Section 33(g): amended, on , by section 13 of the Takeovers Amendment Act 2010 (2010 No 88).