Takeovers Code (Offers Unconditional as to Level of Acceptance) Exemption Revocation Notice 2007

Takeovers Code (Offers Unconditional as to Level of Acceptance) Exemption Revocation Notice 2007

(SR 2007/159)


Note

This notice is administered by the Takeovers Panel.


Pursuant to section 45(8) of the Takeovers Act 1993, the Takeovers Panel gives the following notice.

1 Title
  • This notice is the Takeovers Code (Offers Unconditional as to Level of Acceptance) Exemption Revocation Notice 2007.

2 Commencement
  • This notice comes into force 1 July 2007.

3 Exemption notice revoked
4 Transitional provision
  • (1) The notice continues in force, as if it had not been revoked, in respect of an offer if a takeover notice has been sent to the target company before 1 July 2007.

    (2) In subclause (1), offer, takeover notice, and target company have the same meaning as in rule 3(1) of the Takeovers Code.

Dated at Auckland this 12th day of June 2007.

The Common Seal of the Takeovers Panel was affixed in the presence of:

D O Jones,

Chairperson.

[Seal]

Explanatory note

This notice, which comes into force on 1 July 2007, revokes the Takeovers Code (Offers Unconditional as to Level of Acceptance) Exemption Notice 2002. There will be no necessity for the exemption when certain amendments to the Takeovers Code come into force on 1 July 2007.


Issued under the authority of the Acts and Regulations Publication Act 1989.

Date of notification in Gazette: 21 June 2007.