Takeovers Act 1993

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

33AA: Permanent compliance orders

You could also call this:

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

You can get a permanent compliance order under section 32. This order can do several things. It can stop you from making statements or sharing documents that break the takeovers code, as defined in section 2(2). It can also make you share information to follow the takeovers code. You might be told to publish corrective statements at your own cost. The order will say how and when to publish these statements. You might be told to do or not do something to follow the order. The takeovers code is explained in section 2(2) and you can find more information about it there.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM326193.

This page was last updated on 12 December 2025 — View changes

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33: Temporary restraining orders, or

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

33A: Witnesses and counsel to have privileges of witnesses and counsel in court, or

"People giving information to the Panel have the same rights as witnesses in court."

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

33AAPermanent compliance orders

For the purposes of section 32, a permanent compliance order is an order for 1 or more of the following:
prohibiting or restricting a person 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):
directing a person to disclose in accordance with the order information for the purpose of securing compliance with the takeovers code:
directing a person to publish, at the person's own expense, in the manner and at the times specified in the order corrective statements that are specified in, or are to be determined in accordance with, the order:
for the purpose of securing compliance with any of those orders, an order directing a person to do or refrain from doing a specified act.

Notes

Section 33AA: inserted, on 25 October 2006, by section 13 of the Takeovers Amendment Act 2006 (2006 No 48).