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Commerce Act 1986

Enforcement, remedies, and appeals - Business acquisitions

85: Court may order divestiture of assets or shares in respect of contravention of section 47

You could also call this:

"Court can order you to sell assets or shares if you break a certain rule"

Illustration for Commerce Act 1986

If you break a certain rule, called section 47, the court can make you sell some of your assets or shares. The court can do this if you are found to have broken the rule in a special hearing, or if you have already been found to have broken it in another case. The court can tell you how to sell these assets or shares, and can even make you follow a plan you agreed to under section 69A.

The person in charge of making sure businesses follow the rules, called the Commission, can ask the court to make this order at any time within two years of you breaking the rule.

You might have to sell some of your assets or shares if the court decides that is the best way to fix the problem.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM89480.

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Part 6Enforcement, remedies, and appeals
Business acquisitions

85Court may order divestiture of assets or shares in respect of contravention of section 47

  1. In any case where the court, on the application of the Commission, is satisfied that any person—

  2. has contravened section 47; or
    1. has been found in any other proceedings under this Part to have contravened section 47,—
        1. it may, by order,—
      1. give directions for the disposal by that person of such assets or shares as shall be specified in the order; or
        1. give directions for the disposal by that person of any assets or shares in accordance with an undertaking given by the person under section 69A.

          1. An application under subsection (1) may be made at any time within 2 years from the date on which the contravention occurred.

          Notes
          • Section 85: substituted, on , by section 32 of the Commerce Amendment Act 1990 (1990 No 41).
          • Section 85 heading: amended, on , by section 32(2)(a) of the Commerce (Cartels and Other Matters) Amendment Act 2017 (2017 No 40).