This law says that the Fair Trading Act doesn’t apply to certain activities related to buying and selling companies. These activities are controlled by a set of rules called the Takeovers Code. The Takeovers Code is part of another law called the Takeovers Act 1993. If you’re doing something that the Takeovers Code regulates, or if you’re getting ready to do something that the Takeovers Code might regulate, then the Fair Trading Act won’t apply to what you’re doing. This means that if you’re involved in buying or selling a company, you need to follow the Takeovers Code rules instead of the Fair Trading Act rules.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM96495.
5A: No liability under Act if not liable under Securities Act 1978 or Securities Markets Act 1988, or
“You can't get in trouble under this law if you didn't break other money rules, but this rule doesn't exist anymore”
5C: No contracting out: general rule, or
“Rules in this law apply no matter what, even if you make a different agreement”
Nothing in this Act applies to conduct in relation to any transaction or event regulated by the Takeovers Code that is in force under the Takeovers Act 1993 or incidental or preliminary to a transaction or event that is or is likely to be regulated by that code.
