Plain language law

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Takeovers Act 1993

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

52: Enforcement of agreement of amount to be reimbursed

You could also call this:

"Getting back agreed money through the court"

Illustration for Takeovers Act 1993

You can get back the agreed amount of money as a debt in a court that has the power to make decisions on this matter. You can do this in two ways: the director can get the money from the target company, or the target company can get the money from the person making the offer. The court will help you get the money that was agreed to be reimbursed.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM7205318.

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53: Enforcement of Panel’s order for payment of amount to be reimbursed, or

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

52Enforcement of agreement of amount to be reimbursed

  1. If the amount to be reimbursed is agreed, the amount is recoverable as a debt due in any court of competent jurisdiction, as the case may be,—

  2. by the director from the target company; or
    1. by the target company from the offeror.

      Notes
      • Section 52: inserted, on , by section 132 of the Regulatory Systems (Commercial Matters) Amendment Act 2017 (2017 No 12).