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Takeovers Act 1993

Investigation and enforcement - Offences - General offences

44: General offences

You could also call this:

"Telling lies or hiding truth from the Takeovers Panel is against the law"

Illustration for Takeovers Act 1993

You must not give false or misleading information to the Panel. You must not try to deceive the Panel. If you are asked to appear before the Panel, you must go and answer questions truthfully. You must not refuse to answer questions or provide documents when asked. A company can also get in trouble if its representative does not follow the rules. You must not disobey any orders made by the Panel under section 31X or section 32. If you break these rules, you can get a fine of up to $300,000.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM326383.

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Part 3Investigation and enforcement
Offences: General offences

44General offences

  1. A person must not—

  2. furnish information, produce a document, or give evidence to the Panel or a member, officer, or employee of the Panel knowing it to be false or misleading; or
    1. attempt to deceive or knowingly mislead the Panel or a member, officer, or employee of the Panel in relation to any matter before it.

      1. A person who has been summoned to appear before the Panel or a member, officer, or employee of the Panel must not—

      2. refuse or fail to appear before the Panel to give evidence:
        1. refuse to take an oath or affirmation as a witness:
          1. refuse to answer any question:
            1. refuse or fail to provide any document or information that the person is required to provide.

              1. A body corporate contravenes subsection (2) if its representative refuses or fails to appear before the Panel to give evidence, refuses to take an oath or affirmation as a witness, refuses to answer any question, or refuses or fails to provide any document or information that the body corporate is required to provide.

              2. A person must not act in contravention of any order made by the Panel under section 31X or section 32.

              3. Every person who contravenes this section commits an offence and is liable on conviction to a fine not exceeding $300,000 and, if the offence is a continuing one, to a further fine not exceeding $10,000 for every day or part of a day during which the offence is committed.

              Notes
              • Section 44: replaced, on , by section 24 of the Takeovers Amendment Act 2006 (2006 No 48).
              • Section 44(2): amended, on , by section 413 of the Criminal Procedure Act 2011 (2011 No 81).
              • Section 44(5): amended, on , by section 413 of the Criminal Procedure Act 2011 (2011 No 81).