CodeWord Issue 52 - August 2021

Published 11 August 2021

In this issue

Guidance on acceptance forms

Cheques are being phased out in New Zealand. In light of the phase-out, the Panel issues the following guidance on the drafting of acceptance forms.

Under rule 33(2) of the Code, an offer to which…

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20 years of the Takeovers Code

On 1 July 2021, the Panel marked 20 years of the Takeovers Code.

Established under the Takeovers Act 1993, the Panel was first tasked with drafting and recommending the Code. Among other objectives…

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Panel consults on proposed amendments to capital markets legislation

In July 2021, the Panel released a consultation paper seeking input on a range of proposed amendments to the Code, as well as to other legislation which broadly relate to New Zealand’s capital…

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Class exemption for Catalist Public Market

On 20 June 2021, the Panel granted the Takeovers Code (Catalist Public Market Issuers) Exemption Notice 2021, a class exemption from rule 6(1) of the Code for allotments, acquisitions and buybacks…

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CodeWord is our regular newsletter that keeps market practitioners updated on the Panel’s guidance and determinations, as well as amendments to takeovers law. It also gives an overview of consultations with the market and any Panel news.

Please note that the Panel does not update past issues of CodeWord. As such, the material may become out of date when amendments are made to the Code. Please refer to the Panel's guidance notes for up-to-date regulatory guidance.

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