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Takeovers Act 1993

Investigation and enforcement - Enforcement by court - Injunctions

33H: Undertaking as to damages not required by Panel

You could also call this:

"The court does not ask the Panel to promise to pay damages when getting a temporary order."

Illustration for Takeovers Act 1993

If you are on the Panel and you ask the court for an interim injunction, the court cannot make you promise to pay damages as a condition of getting the injunction. When the court is deciding whether to give the Panel an interim injunction, it must not consider that the Panel does not have to promise to pay damages. The court makes its decision based on other factors.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM326317.

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Part 3Investigation and enforcement
Enforcement by court: Injunctions

33HUndertaking as to damages not required by Panel

  1. If the Panel applies to the court for the grant of an interim injunction under this subpart, the court must not, as a condition of granting an interim injunction, require the Panel to give an undertaking as to damages.

  2. However, in determining the Panel's application for the grant of an interim injunction, the court must not take into account that the Panel is not required to give an undertaking as to damages.

Notes
  • Section 33H: inserted, on , by section 16 of the Takeovers Amendment Act 2006 (2006 No 48).