Takeovers Act 1993

Investigation and enforcement - Enforcement by court - General

43C: Time limit for applying for civil remedies

You could also call this:

"You have 2 years to apply for help in court after finding out about a problem."

Illustration for Takeovers Act 1993

You can apply for a civil remedy order under section 33I or a pecuniary penalty order under section 33M within 2 years of discovering the matter. You must find out about the matter or it should be something you reasonably ought to have known about. The time limit is 2 years from this date. You have to follow the usual time limits for other civil remedy orders. These time limits are important to remember. They apply to most orders. If you want to apply for a compensatory order, you have 6 months from the date a declaration of contravention is made. This is even if the usual time limit has expired. You can make this application within 6 months of the declaration.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM326377.

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Part 3Investigation and enforcement
Enforcement by court: General

43CTime limit for applying for civil remedies

  1. An application for a civil remedy order under section 33I or a pecuniary penalty order under section 33M may be made at any time within 2 years after the date on which the matter giving rise to the contravention was discovered or ought reasonably to have been discovered.

  2. The usual time limits apply to all applications for other civil remedy orders.

  3. However, an application for a compensatory order in respect of a contravention may be made at any time within 6 months after the date on which a declaration of contravention is made, even if the usual time limit has expired.

Notes
  • Section 43C: inserted, on , by section 23 of the Takeovers Amendment Act 2006 (2006 No 48).