Plain language law

New Zealand law explained for everyone

Takeovers Act 1993

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

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

You could also call this:

"Getting paid when someone owes you money according to the Panel's order"

Illustration for Takeovers Act 1993

You can get the Panel's order enforced if someone owes you money. The Panel's order can be enforced like a court judgment for paying a sum of money, as stated in section 50. When this happens, it goes to a court, which is either the District Court or the High Court. You will go to the District Court if the amount owed is $350,000 or less. If the amount owed is more than $350,000, you will go to the High Court. The court will then handle the order like a normal judgment to get the money paid. In this case, the court is the place where the order is enforced, and it can be either the District Court or the High Court, depending on the amount owed.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM7205320.

This page was last updated on — View changes

Topics:
Money and consumer rights > Consumer protectionCrime and justice > Courts and legal help
Previous

52: Enforcement of agreement of amount to be reimbursed, or

"Getting back agreed money through the court"

Next

Schedule 1AA: Transitional, savings, and related provisions, or

""

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

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

  1. If the amount to be reimbursed is determined by the Panel, the Panel’s order under section 50 may be enforced as if it were a judgment by the court for the payment of a sum of money.

  2. In this section, court means—

  3. the District Court, if the amount to be reimbursed is no more than $350,000; or
    1. the High Court, if the amount to be reimbursed is more than $350,000.

      Notes
      • Section 53: inserted, on , by section 132 of the Regulatory Systems (Commercial Matters) Amendment Act 2017 (2017 No 12).