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Takeovers Act 1993

Takeovers code

23A: Takeovers code does not apply where court order under section 236 of Companies Act 1993

You could also call this:

"The takeovers code doesn't apply if a court order changes a company's voting rules."

Illustration for Takeovers Act 1993

You do not have to follow the takeovers code if a court makes an order under section 236(1) of the Companies Act 1993 that affects the voting rights of a code company. This is because the court's order is made according to rules in the Companies Act 1993. The takeovers code does not apply in this 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=DLM6198607.

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"When the takeovers code doesn't apply to you in certain situations"

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Part 2Takeovers code

23ATakeovers code does not apply where court order under section 236 of Companies Act 1993

  1. The takeovers code does not apply where the court has made an order under section 236(1) of the Companies Act 1993 that affects the voting rights of a code company (within the meaning of that term in section 236A of the Companies Act 1993).

Notes
  • Section 23A: inserted, on , by section 31(4) of the Companies Amendment Act 2014 (2014 No 46).