 | ||||||||||||||||||||||||
|
If you prefer you can send your application on disk in Word format or by email to takeovers.panel@takeovers.govt.nz. A hard copy of your application should also be forwarded together with the cheque for the application fee.
A suggested format for an exemption application is set out below. It is not mandatory that the table be used but we recommend that you follow the format to ensure that all the necessary information is provided and delays caused by an incomplete application are avoided. The format can be downloaded from our web site www.takeovers.govt.nz in Word format or we will supply it by email or on disk on request. In preparing an exemption application you should consider the interests of all relevant holders of voting rights.
Individual Panel members may sometimes have a conflict of interest with a matter that comes before the Panel. If you think any Panel member may be conflicted in the matter you are dealing with for exemption it would be helpful to note this in your application. Panel members are listed in our annual report which is published on our website.
A cheque for $1,237.50 should accompany each application for an exemption. This represents the application fee of $100 prescribed under the Takeovers (Fees) Regulations 2001 and an advance of $1,000 in respect of fees and costs to be incurred, plus GST. The Takeovers (Fees) Regulations 2001 prescribe charging rates of $200 plus GST per hour for time spent by members of the Panel and $145 plus GST per hour for time spent by professional staff. We are willing to provide estimates for our work. While we endeavour to provide reliable estimates we do not consider ourselves bound to limit our charges to the amount of the estimate and will seek payments at the prescribed rates. You will be sent an account for costs, where required, each month and at the conclusion of our work. If the cost of work done at the prescribed rates does not exceed the $1,000 paid in advance a refund will be made when our work is finished. Our experience is, however, that this will only arise in a few cases. When the exemption is gazetted the applicant also reimburses the Panel for the costs of printing and gazetting the exemption notice at the rate of $167.17 plus GST per printed page.
Applications should include a statement of the date by which the Panel’s decision is required. If the application needs to be
|
considered urgently, you must provide reasons for this. We will do our best to meet reasonable timeframes. You need to let us have all the information promptly and allow us sufficient time to process the application. Processing time depends on the nature and quality of the application and the resources available within the Panel when you apply. Applications may take longer to process if difficult questions of policy arise. Time must also be allowed for referral to Parliamentary Counsel Office, for drafting the exemption.
Application considered by staff Your application is considered by Panel staff, who prepare a memorandum for the Panel to consider. You may be asked to provide further information at this stage. This process is speeded up when the applicant provides quality information at the time of application and responds to queries promptly. Consideration by Panel When the memorandum is finalised it is put to a Panel meeting. Class exemptions under section 45(1)(b) and exemptions that raise significant policy questions are considered by a full meeting of the Panel, usually held monthly. Other exemptions can be considered by a division of the Panel as the need arises. Notice drafted by Parliamentary Counsel Office If the application is approved the Panel instructs the Parliamentary Counsel Office to prepare the exemption notice. Parliamentary Counsel Office (which is not an arm of the Panel) drafts all legislation and delegated legislation including exemption notices. One to two weeks should be allowed for parliamentary counsel to prepare a draft, but complex notices may take longer. You will generally be invited to comment on a draft notice before the final form of the exemption is settled. You should not deal directly with Parliamentary Counsel Office. Signature and publication Each exemption notice is signed by the Chairperson or another Member of the Panel and the exemption is effective once the notice is signed. The Panel must give notice of the exemption in the Gazette, which is published each Thursday. An exemption will generally be notified:
unless the Panel has agreed to defer notifying an exemption on the ground of commercial confidentiality. The Panel may also agree to defer notifying, or omit to notify, the reasons for granting an exemption, on the grounds of commercial confidentiality.
If the Panel considers it would promote public understanding, it may make reference, in general terms, to the reasons why some applications were declined.
|
|
|||||||||||||||||||||
| ||||||||||||||||||||||||
Page 1 - Page 2 - Page 3 - Page 4 - Page 5 - Page 6
Publications Index - Home Page