1 Title
2 Commencement
3 Title repealed
4 Interpretation
5 Object of this Act
6 Membership of Panel
7 Section 7 repealed
8 New section 7A substituted
7A Panel may act by divisions
9 Membership and Chairperson of division
10 Powers of division
11 Functions of Panel
12 Sections 9 and 10 repealed
13 Proceedings privileged
14 Sections 12 and 13 repealed
15 Delegation of certain powers by Panel
16 New section 19 substituted
19 Power to make takeovers code
17 Objectives of takeovers code
18 Matters to be considered by Panel in formulating takeovers code
19 Specific provisions applying to takeovers code
20 Takeovers code not to apply in certain cases
21 New sections 24 and 25 substituted
24 Co-ordination with Australia
25 Minister to consult Panel
22 New headings and sections 31A to 31BB substituted
Part 3Investigation and enforcement
Panel's powers of inspection
31A Power to inspect documents
31B Power to request or approve Registrar or authorised person to inspect documents
31BA Limits on exercise of power to inspect documents
31BB Requirements for persons authorised to inspect documents
23 New section 31C substituted
31C Disclosure of information from inspection
24 Powers not limited
25 Non-disclosure of information from inspection
26 New sections 31EA and 31EB inserted
31EA No privilege against self-incrimination
31EB Protections from liability for persons exercising powers of inspection
27 Heading before section 31F repealed
28 New section 31F inserted
31F Offences
29 Heading before section 31G repealed
30 Rights of appeal
31 Situation while appeal pending
32 Requirements where appeal allowed
33 New heading and sections 31L to 31X inserted
Panel's powers for receiving evidence
31L Power of Panel to receive evidence not otherwise admissible
31M Method of receiving evidence
31N Power to summon witnesses
31O Witnesses' expenses
Exercise of inspection and evidence powers for overseas regulators
31P Power of Panel to act on requests of overseas regulators
31Q Panel's consideration of requests
31R Conditions that may be imposed on providing information to overseas regulators
31S Undertakings to be obtained before providing certain information to overseas regulators
Panel's power to accept undertakings
31T Panel may accept undertakings
31U Enforcement of undertakings
Proceedings before Panel
31V Right to be heard and represented at proceedings before Panel
31W Panel to hear proceedings in private
31X Power to make confidentiality orders
34 Part III heading repealed and new heading inserted
Enforcement of takeovers code by Panel
35 Panel's powers in respect of compliance with takeovers code
36 New heading and sections 33A to 33E inserted
Miscellaneous provisions for investigation and enforcement by Panel
33A Witnesses and counsel to have privileges of witnesses and counsel in Court
33B No privilege against self-incrimination
33C Restrictions on use of evidence obtained by summons
33D Limitation on disclosure of information obtained in Panel's operations
Enforcement by Court
33E Jurisdiction of Courts in New Zealand
37 Panel may grant exemptions
38 Consequential amendments
39 Transitional provision relating to existing takeovers code
ScheduleConsequential amendments to Takeovers Act 1993 and other enactments
Legislative history
The Parliament of New Zealand enacts as follows: