CodeWord Issue 02 - June 2001

In this issue

Class Exemptions from the Takeovers Code - a summary

The Takeovers Code (Class Exemptions) Notice 2001 comes into force on 1 July 2001 at the same time as the Takeovers Code.

The class exemptions provid…

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Transitional provisions for the Code coming into force

When the Takeovers Code comes into force on 1 July 2001, it is intended that the new law should have full effect from that day. The market is expected…

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No mandatory bid rule in NZ Takeovers Code

If a shareholder goes over the 20 percent threshold of the Takeovers Code they must offer to buy all the voting securities of the company? Not true!

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Relationship between the Takeovers Panel and the Securities Commission

The Panel and the Commission are separate Crown entities with their own legislation and defined functions.

The Panel and the Commission are separatel…

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How the Code permits voting rights to be increased

This is a simplified summary. If you need to comply with the code you should check the full terms of the Code.

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Frequently Asked Questions

The following answers to frequently asked questions are published for general information about the Code and its application.

When will the class exe…

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Featured: David Jones, Deputy Chairperson of the Takeovers Panel

David Jones is principal of an Auckland law practice and has been practising in commercial and company law for more than 20 years.

He was a member of…

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