Takeovers Act 1993

Investigation and enforcement - Other court orders - Management bans

44I: Only 1 management banning order may be made for same conduct

You could also call this:

"You can only get one order for doing something wrong once."

You can only get one management banning order for the same bad behaviour. If you do something wrong, you might break rules in the Takeovers Act 1993, the Financial Markets Conduct Act 2013, or the Companies Act 1993. You can be taken to court under any of these laws, but you will only get one order for the same behaviour.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM326708.

This page was last updated on 12 December 2025 — View changes

Topics:

Money and consumer rights > Consumer protectionBusiness > Industry rules

44H: Offence of contravening management banning order, or

"Breaking a management banning order is a serious crime"

44J: Persons automatically banned from management, or

"People who break certain laws can't help run a company for 5 years"

Part 3Investigation and enforcement
Other court orders: Management bans

44IOnly 1 management banning order may be made for same conduct

If conduct by a person constitutes grounds for making an order under any 1 or more of section 44F of this Act, subpart 6 of Part 8 of the Financial Markets Conduct Act 2013, and section 383 of the Companies Act 1993, proceedings may be brought against that person under any 1 or more of those provisions, but no person is liable to more than 1 order under those provisions for the same conduct.

Notes

Section 44I: inserted, on 25 October 2006, by section 24 of the Takeovers Amendment Act 2006 (2006 No 48).
Section 44I: amended, on 1 December 2014, by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70).