Takeovers Act 1993

Investigation and enforcement - Other court orders - Orders to preserve assets to satisfy claims

44L: When court may prohibit payment or transfer of money, financial products, or other property

You could also call this:

"When can a court stop someone from paying or transferring money or property?"

You can ask the court to stop someone from paying or transferring money or property. This can happen if someone is being investigated for doing something wrong under the Takeovers Act. The court can make this decision to protect the person who has been affected. You can also ask the court to do this if someone is being prosecuted for breaking the Takeovers Act. The court can make orders to protect you, as stated in section 44M. The court will do this if they think it is necessary. Some words have special meanings in this section, like "aggrieved person" and "associated person". An "aggrieved person" is someone who is owed money or property by someone else. An "associated person" has the same meaning as in the Financial Markets Conduct Act 2013. The court can help you if someone is liable to pay you money or give you property. This means they have to pay you or give you something because of a debt or damages. The court can make orders to stop someone from paying or transferring money or property to protect you.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM326716.

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

Topics:

Money and consumer rights > Consumer protectionCrime and justice > Courts and legal help

44K: General provisions for bans and banning orders, or

"Rules for Banning Company Managers"

44M: What orders may be made, or

"Court orders that can control your money and property"

Part 3Investigation and enforcement
Other court orders: Orders to preserve assets to satisfy claims

44LWhen court may prohibit payment or transfer of money, financial products, or other property

This section applies if—
an investigation is being carried out under this Act in relation to an act or omission by a person, being an act or omission that constitutes or may constitute a contravention of this Act or the takeovers code; or
a prosecution has begun against a person for a contravention of this Act; or
a civil proceeding has begun against a person under this Act.

The court may, on application by the Panel or by an aggrieved person, make 1 or more of the orders listed in section 44M if the court considers it necessary or desirable to do so for the purpose of protecting the interests of an aggrieved person.
In this section and section 44M,—
aggrieved person means any person to whom a relevant person is liable
associated person has the same meaning as in section 12(1) of the Financial Markets Conduct Act 2013
liable means liable, or may be or become liable, to pay money (whether in respect of a debt, by way of damages or compensation, or otherwise) or to account for financial products or other property
relevant person means a person referred to in subsection (1).

Notes

Section 44L: inserted, on 25 October 2006, by section 24 of the Takeovers Amendment Act 2006 (2006 No 48).
Section 44L heading: amended, on 1 December 2014, by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70).
Section 44L(3) associated person: replaced, on 1 December 2014, by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70).
Section 44L(3) liable: amended, on 1 December 2014, by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70).