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Takeovers Act 1993

Investigation and enforcement - General

44W: Knowledge of matters presumed if employee or agent knows matters

You could also call this:

"You're responsible for what your staff know while working for you."

Illustration for Takeovers Act 1993

If you are involved in a case under the Takeovers Act 1993, you are assumed to know something if one of your employees or agents knew about it while working for you. This is true unless you can prove that you did not know, and the proof must be strong enough to be believed. You are assumed to have known about it at the time it was important.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM326748.

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Part 3Investigation and enforcement
General

44WKnowledge of matters presumed if employee or agent knows matters

  1. In any proceedings under this Act, it is presumed, in the absence of proof to the contrary established on the balance of probabilities, that a person knew, at a material time, of any matter if, at that time, an employee or agent of that person knew of the matter in his or her capacity as employee or agent.

Notes
  • Section 44W: inserted, on , by section 24 of the Takeovers Amendment Act 2006 (2006 No 48).