Takeovers Code Approval Amendment Regulations 2013


Takeovers Code Approval Amendment Regulations 2013

Jerry Mateparae, Governor-General

Order in Council

At Wellington this 22nd day of April 2013 

The Right Hon John Key presiding in Council

Pursuant to section 19(1) of the Takeovers Act 1993, His Excellency the Governor-General, acting on the advice and with the consent of the Executive Council and on the recommendation of the Minister formulated and made in accordance with Part 2 of that Act, makes the following regulations.


1 Title

2 Commencement

3 Takeovers Code amended

4 Rule 3 amended (Interpretation)

5 New rule 4A inserted (Provisions affecting application of amendments to this code)

6 Rule 7 amended (Exceptions to fundamental rule)

7 Rule 9 amended (Partial offer)

8 Rule 10 amended (When offeror does not hold or control more than 50% of voting rights)

9 New rules 14A to 14E and cross-heading inserted

10 Rule 15 amended (Notice of meeting: acquisition of voting securities)

11 Rule 16 amended (Notice of meeting: allotment of voting securities)

12 New rule 19B and cross-heading inserted

13 Rule 24A amended (Extension of offer period)

14 New rule 24C inserted (Extension of offer period if minimum acceptance condition satisfied or waived in final week)

15 Rule 25 amended (Conditions)

16 Rule 35 amended (Dispositions)

17 Rule 43 amended (Who are offerees)

18 Rule 43A amended (Record date)

19 Rule 43B amended (When offer must be sent)

20 Rule 44 amended (Offer document)

21 Rule 45 amended (Despatch notice)

22 Rule 46 amended (Target company statement)

23 Rule 47 amended (Documents that must be sent to Panel or that Panel may require)

24 Rule 48 amended (Notification of altered offer document)

25 New rules 49B and 49C inserted

26 Rule 60 amended (Payment of consideration to outstanding security holder)

27 Rule 61 amended (Delivery of consideration to code company)

28 Rule 63 amended (Registration of dominant owner as holder of outstanding securities)

29 New Part 9 inserted

30 Schedule 1, new clause 5A inserted

31 Schedule 1, clause 14 replaced

32 Schedule 2, clause 6 amended

33 Schedule 2, clause 18 amended

34 New Schedules 4 and 5 inserted

35 Takeovers Code (Class Exemptions) Notice (No 2) 2001 amended

36 Consequential revocation

37 New Schedule 1AA inserted

Schedule 1
New Schedules 4 and 5 inserted

Schedule 2
New Schedule 1AA inserted

Explanatory note

Administrative information