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Takeovers Act 1993

Miscellaneous - Reimbursement of expenses incurred in connection with offer or takeover notice

50: Determinations by Panel of amount to be reimbursed

You could also call this:

"The Panel decides how much money you get back"

Illustration for Takeovers Act 1993

If you apply to the Panel under section 48(2)(b) or 49(2)(b), they must decide how much you get reimbursed. The Panel will then order that amount to be paid. You might get paid by the target company or the offeror, depending on your situation.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM326771.

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Topics:
Money and consumer rights > Consumer protection
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49: Reimbursement of target company, or

"Getting expenses paid back when a company is taken over"

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51: Appeals against Panel’s determination, or

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Part 4Miscellaneous
Reimbursement of expenses incurred in connection with offer or takeover notice

50Determinations by Panel of amount to be reimbursed

  1. If the Panel receives an application under section 48(2)(b) or 49(2)(b), the Panel must (unless an agreement is reached beforehand under section 48(2)(a) or 49(2)(a))—

  2. determine the amount to be reimbursed for the purposes of section 48(2)(b) or 49(2)(b); and
    1. order that amount to be paid, as the case may be,—
      1. by the target company to the director; or
        1. by the offeror to the target company.

        Notes
        • Section 50: replaced, on , by section 132 of the Regulatory Systems (Commercial Matters) Amendment Act 2017 (2017 No 12).