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Takeovers Act 1993

Takeovers Panel

15C: Sharing of information and documents with licensed market operators

You could also call this:

"The Takeovers Panel can share information with market operators to help them do their job."

Illustration for Takeovers Act 1993

The Takeovers Panel can share information and documents with licensed market operators. You can think of the Panel like a group that helps make sure companies follow the rules when they are taking over other companies. The Panel can give information to licensed market operators if it will help them do their job. The Panel can use information given to it by licensed market operators under section 357 or 358 of the Financial Markets Conduct Act 2013 to help the Panel make decisions. This means the Panel can look at the information when it is deciding what to do. The Panel can do this even if there are other rules that say it cannot. This rule applies even if there are other contracts or documents that say something different. Nothing in this rule limits the Privacy Act 2020. This means that the Privacy Act 2020 still applies and the Panel must follow its rules when sharing information.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6346547.

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Topics:
Money and consumer rights > Consumer protectionBusiness > Industry rulesRights and equality > Privacy
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"Sharing information to help companies and consumers"

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Part 1Takeovers Panel

15CSharing of information and documents with licensed market operators

  1. The Panel may provide to a licensed market operator any information, or a copy of any document, that the Panel—

  2. holds in relation to the exercise of the Panel’s powers, or the performance of its functions and duties; and
    1. considers may assist the licensed market operator in the exercise of the operator’s powers, or the performance of its functions and duties, under any enactment or any market rules (within the meaning of section 6(1) of the Financial Markets Conduct Act 2013).

      1. The Panel may use any information, or a copy of any document, provided to it by a licensed market operator under section 357 or 358 of the Financial Markets Conduct Act 2013 in the Panel’s exercise of its powers, or the performance of its functions and duties.

      2. This section applies despite anything to the contrary in any contract, deed, or document.

      3. Nothing in this section limits the Privacy Act 2020.

      Notes
      • Section 15C: inserted, on , by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70).
      • Section 15C(4): amended, on , by section 217 of the Privacy Act 2020 (2020 No 31).