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In this section

TAKEOVERS AMENDMENT ACT 2006

Contents

1
Title

2
Commencement

3
Principal Act amended

4
Interpretation

5
Object of this Act

6
Delegation of certain powers by Panel

7
New section 15B inserted

15B
Sharing of information with Commerce Commission

8
New heading inserted

9
New sections 31L to 31MA substituted

31L
Who may receive evidence

31M
Admissibility of evidence

31MA
How evidence may be given

10
Power to summon witnesses

11
Panel's powers in respect of compliance with takeovers code

12
Restraining orders

13
New section 33AA inserted

33AA
Permanent compliance orders

14
New section 33C substituted

33C
Restrictions on use of self-incriminating statements obtained by summons

15
Heading above section 33E and sections 33E and 34 repealed

16
New subpart 2 inserted

Subpart 2---Enforcement by Court

Overview of enforcement powers and civil remedies

33E
Overview of enforcement powers and civil remedies


Injunctions

33F
What Court may injunct

33G
When Court may grant injunctions and interim injunctions

33H
Undertaking as to damages not required by Panel


Various civil remedy orders

33I
When Court may make various civil remedy orders

33J
Terms of various civil remedy orders


Compensatory orders

33K
When Court may make compensatory orders

33L
Terms of compensatory orders


Pecuniary penalty orders and declarations of contravention

33M
When Court may make pecuniary penalty orders and declarations of contravention

33N
Purpose and effect of declarations of contravention

33O
What declarations of contravention must state

33P
Maximum amount of pecuniary penalty

33Q
Considerations for Court in determining pecuniary penalty

33R
Court must order that recovery from pecuniary penalty be applied to Panel's actual costs


General

17
Persons who may apply

18
Repeal of sections 36 and 37

19
Court may have regard to determinations and recommendations by Panel

20
Sections 39 and 40 repealed

21
New section 41 substituted

s
41
Court may excuse contravention

22
Court may require person to give evidence or produce documents relating to interests in securities

23
New sections 43 to 43C substituted

43
More than 1 civil remedy order may be made for same conduct

43A
Only one pecuniary penalty order may be made for same conduct

43B
Standard of proof for civil remedies

43C
Time limit for applying for civil remedies

24
New heading and subparts 3, 4, and 5 substituted

Subpart 3---Offences

General offences

44
General offences

44A
Conviction of offence under section 44 excluded in certain cases


False or misleading statement or information

44B
False or misleading statement or information

44C
Criminal liability for false or misleading statement or information

44D
Exception for disclosure by investment advisers or brokers

44E
Fair Trading Act 1986 excluded


Subpart 4---Other Court orders Management bans

Management bans

44F
When Court may make management banning orders

44G
Terms of management banning orders

44H
Offence of contravening management banning order

44I
Only one management banning order may be made for same conduct

44J
Persons automatically banned from management

44K
General provisions for bans and banning orders


Orders to preserve assets to satisfy claims

44L
When Court may prohibit payment or transfer of money, securities, or other property

44M
What orders may be made

44N
Interim orders

44O
Relationship with other law

44P
Offence


Subpart 5---General

44Q
Jurisdiction of Courts in New Zealand

44R
Court may order payment of Panel's costs

44S
Orders to secure compliance

44T
Giving notice of applications for Court orders

44U
General provisions as to Court's orders

44V
Persons entitled to appear before Court

44W
Knowledge of matters presumed if employee or agent knows matters

44X
No pecuniary penalty and fine for same conduct

25
New Part 4 heading substituted

Part 4
Miscellaneous

Amendments to takeovers code

26
Takeovers code substituted

27
Interpretation

28
Offer period

29
New Part 8 added

Part 8
Market manipulation

64
Misleading or deceptive conduct

65
Exception for disclosure by investment advisers or brokers


Amendments to replace references to takeovers schemes

30
Amendments to replace references to takeovers schemes


Transitional provisions

31
Transitional provision for acquisitions made or committed to before commencement of this section

32
Transitional provision for existing offences and contraventions