Code of Conduct
Members of the Panel must act in accordance with their collective and statutory duties under the Crown Entities Act 2004.
Under section 57A of the State Sector Act, Panel employees are required to comply with Standards of Integrity & Conduct that sets out minimum standards of integrity and conduct. The Panel also has a supplementary Staff Code of Conduct to ensure that the practices and procedures of the whole organisation meet the high standards of integrity expected of the State Services in New Zealand.
The Panel has a prosecution function under sections 44, 44B and 44C of the Takeovers Act 1993. The Prosecutions Policy applies to any potential prosecution and to any current prosecution under those provisions.
Policy on use of Pecuniary Penalties
If the Panel determines at a formal enforcement hearing under section 32 of the Takeovers Act 1993 that a person has contravened the Code, then the Panel may seek an order for a pecuniary penalty under section 33E of the Act. This Policy on the use of Pecuniary Penalties sets out the factors that the Panel will consider in deciding whether to apply to the Court for such an order.