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Takeovers Act 1993

Investigation and enforcement - Enforcement by court - Compensatory orders

33K: When court may make compensatory orders

You could also call this:

"When someone breaks the rules, you can ask the court for money to make up for your loss."

Illustration for Takeovers Act 1993

You can ask the court to make a compensatory order if someone breaks the takeovers code. The court must be satisfied that someone has broken the code and that you have suffered, or will suffer, loss or damage because of this. You can ask for this order even if you are not part of the court case, by applying in accordance with section 35.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM326327.

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Part 3Investigation and enforcement
Enforcement by court: Compensatory orders

33KWhen court may make compensatory orders

  1. The court may make a compensatory order, on application by any person in accordance with section 35, if the court is satisfied that—

  2. there is a contravention of the takeovers code; and
    1. a person (the aggrieved person) has suffered, or is likely to suffer, loss or damage because of the contravention.

      1. The court may make a compensatory order whether or not the aggrieved person is a party to the proceedings.

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