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

Reprint as at 15 March 2019

Coat of Arms of New Zealand

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

(SR 2001/170)

Note

Changes authorised by subpart 2 of Part 2 of the Legislation Act 2012 have been made in this official reprint.

Note 4 at the end of this reprint provides a list of the amendments incorporated.

This notice is administered by the Takeovers Panel.

Pursuant to section 45 of the Takeovers Act 1993, the Takeovers Panel gives the following notice (to which is appended a statement of reasons of the Takeovers Panel).

Contents

1Title
2Commencement
3Interpretation
3ATransitional, savings, and related provisions
Part 1
Exemptions for certain acquisitions of voting securities
4Exemption for buyback approved by shareholders
5Exemption for buyback that is not approved by shareholders: increased voting control eliminated within 12 months after increase
6Exemption for increased voting control within 12 months after buyback reduced control percentage
Part 2
Exemptions for certain allotments of voting securities
7Exemption for public offer of voting securities [Revoked]
8Exemption for allotments pursuant to pro rata offer or scheme: increased voting control eliminated within 12 months after increase
8AExemption for allotments pursuant to offer with accelerated features but otherwise pro rata: increased voting control eliminated within 12 months after increase
8BExemption for allotments pursuant to certain offers with excluded overseas shareholders: increased voting control eliminated within 12 months after increase
8CExemption for allotments pursuant to certain scheme with excluded overseas shareholders: increased voting control eliminated within 12 months after increase
9Exemption for increased voting control within 12 months after allotments pursuant to clauses 8 to 8C offer or scheme result in reduced control percentage
10Exemption for increased voting control within 12 months after allotments pursuant to other kind of offer or scheme result in reduced control percentage
10ARule 16(b) exemption [Revoked]
Part 3
Miscellaneous exemptions
11Exemption for lenders and receivers
12Exemption for persons whose associates include lenders or receivers
13Exemption for proxies
14Exemption for persons whose associates include proxies
15Exemption for corporate representatives
16Exemption for persons whose associates include corporate representatives
17Exemption for brokers
18Exemption for persons whose associates include brokers
19Exemption for underwriters [Revoked]
20Exemption for executors, trustees, and administrators
21Exemption for persons whose associates include executors, trustees, or administrators
22Exemption for beneficiaries of wills and intestacies
23Exemption for nominee companies and bare trustees of trusts
24Exemption for persons whose associates include nominee companies or bare trustees
25Exemption for transfers within wholly-owned groups
25AExemption for transfers involving group headed by 1 natural person
25BExemption for transfers involving group headed by 2 or more persons including at least 1 natural person
25CExemptions relating to information given to regulatory bodies [Revoked]
25DExemption relating to additional information contained in takeover notice that is erroneous or outdated [Revoked]
25EExemption relating to variation of terms and conditions contained in takeover notice [Revoked]
25FExemptions relating to period within which target company statement must be sent
26Exemption for certain oversubscribed partial offers [Revoked]
27Revocation
Schedule 1AA
Transitional, savings, and related provisions
Schedule 1
Conditions of buyback exemption
Schedule 2
Conditions of rule 16(b) exemption
[Revoked]
Schedule 3
Conditions of exemption for certain oversubscribed partial offers
[Revoked]
Statement of reasons of Takeovers Panel
Gazette Information
Reprint notes