Takeovers Code (Offers Unconditional as to Level of Acceptance) Exemption Revocation Notice 2007

	TAKEOVERS CODE (OFFERS UNCONDITIONAL AS TO LEVEL OF ACCEPTANCE) EXEMPTION REVOCATION NOTICE 2007

2007/159

Takeovers Code (Offers Unconditional as to Level of Acceptance) Exemption Revocation Notice 2007

Pursuant to section 45(8) of the Takeovers Act 1993, the Takeovers Panel gives the following notice.

Title
Commencement
Exemption notice revoked
Transitional provision

Notice

1	Title This notice is the Takeovers Code (Offers Unconditional as to Level of Acceptance) Exemption Revocation Notice 2007.

2	Commencement This notice comes into force 1 July 2007.

3	Exemption notice revoked
	The Takeovers Code (Offers Unconditional as to Level of Acceptance) Exemption Notice 2002 (SR 2002/87) (the notice) is revoked.

4	Transitional provision
(1)	The notice continues in force, as if it had not been revoked, in respect of an offer if a takeover notice has been sent to the target company before 1 July 2007.
(2)	In subclause (1), offer, takeover notice, and target company have the same meaning as in rule 3(1) of the Takeovers Code.

Dated at Auckland this 12th day of June 2007.

The Common Seal of the Takeovers Panel was affixed in the presence of:

David Jones
Chairman

Explanatory note

This notice, which comes into force on 1 July 2007, revokes the Takeovers Code (Offers Unconditional as to Level of Acceptance) Exemption Notice 2002. There will be no necessity for the exemption when certain amendments to the Takeovers Code come into force on 1 July 2007.

Issued under the authority of the Acts and Regulations Publication Act 1989.
Date of notification in Gazette: 21 June 2007
This notice is administered by the Takeovers Panel.