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Takeovers Act 1993

Investigation and enforcement - Offences - False or misleading statement or information

44C: Criminal liability for false or misleading statement or information

You could also call this:

"Telling lies can be a crime"

Illustration for Takeovers Act 1993

If you make a false or misleading statement, you can commit an offence if you know it is false. You can be liable for this offence if you break the rules in section 44B. If you are found guilty, you can face imprisonment or a fine. If you are an individual, you can get a prison term of up to 5 years or a fine of up to $300,000, or both. If you are a body corporate, you can get a fine of up to $1,000,000. This is what happens if you commit an offence against the rules. You must follow the law and tell the truth to avoid committing an offence.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM326392.

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Topics:
Crime and justice > Criminal law
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44B: False or misleading statement or information, or

"Don't make false claims about a company or its products"

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44D: Exception for disclosure by investment advisers or brokers, or

"When investment helpers don't have to share secret information"

Part 3Investigation and enforcement
Offences: False or misleading statement or information

44CCriminal liability for false or misleading statement or information

  1. A person who contravenes section 44B commits an offence if the person has actual knowledge that the statement or information is false in a material aspect or is materially misleading.

  2. A person who commits an offence against subsection (1) is liable on conviction to,—

  3. in the case of an individual, imprisonment for a term not exceeding 5 years or a fine not exceeding $300,000, or to both:
    1. in the case of a body corporate, a fine not exceeding $1,000,000.

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