Panel recommends changes to the Takeovers Code

20 August 2012

The Takeovers Panel has today recommended to the Minister of Commerce, Hon Craig Foss, that a number of amendments are required for the Takeovers Code. The purpose of the amendments is to improve the efficiency of the Code and improve disclosures to shareholders of Code companies.

The Panel’s recommendations may be viewed on the Panel's website.

The Panel, together with the Ministry of Business, Innovation and Employment, will undertake consultation on the draft regulations that will give effect to the amendments to be made to the Code. The draft regulations will be sent to those who submitted on the Panel’s consultation papers to develop the policy of the amendments. The Panel and the Ministry invite any other interested parties to request a copy of the draft regulations from the Panel.

The Panel may be contacted at

Email: takeovers.panel@takeovers.govt.nz 
Phone: 04 815 8420

The draft regulations, once they are ready, will be available on the Panel’s website:www.takeovers.govt.nz