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Takeovers Act 1993

Investigation and enforcement - Investigation and enforcement by Panel - Miscellaneous provisions for investigation and enforcement by Panel

33C: Restrictions on use of self-incriminating statements obtained by summons

You could also call this:

"Protection for people who answer questions that might get them in trouble"

Illustration for Takeovers Act 1993

If you make a statement that could be used against you when answering a question from the Panel under section 31N, it cannot be used against you in criminal proceedings or when the Panel is trying to get a pecuniary penalty order against you. You should know that this statement can be used against you if you are accused of lying or giving false information. If you refuse to answer a question or give false information, this can be used as evidence against you in certain proceedings, such as those under section 44(1) or the Financial Markets Conduct Act 2013.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM326300.

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Part 3Investigation and enforcement
Investigation and enforcement by Panel: Miscellaneous provisions for investigation and enforcement by Panel

33CRestrictions on use of self-incriminating statements obtained by summons

  1. A self-incriminating statement made orally by a person summoned under section 31N (whether or not the statement is recorded in writing) in the course of answering any question before, or providing any information or document to, the Panel, or a member, officer, or employee of the Panel,—

  2. subject to paragraph (b), is not admissible in—
    1. criminal proceedings against that person; or
      1. proceedings under this Act or the Financial Markets Conduct Act 2013 for a pecuniary penalty order against that person; but
      2. is admissible against that person in any proceeding in respect of the falsity of the person's testimony, for example, in a prosecution for perjury or for an offence under section 44(1).

        1. In addition,—

        2. a refusal or failure to answer a question or provide information or a document or comply with any other requirement may be used in evidence against that person in proceedings for an offence under section 44(1) arising from that refusal or failure; and
          1. the answering of a question in a way that is false, deceptive, or misleading or the providing of information or a document that is false, deceptive, or misleading may be used in evidence against that person in proceedings for an offence under section 44(1) arising from that act.

            Notes
            • Section 33C: replaced, on , by section 14 of the Takeovers Amendment Act 2006 (2006 No 48).
            • Section 33C(1)(a)(ii): amended, on , by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70).