Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


Swain gives an update on the Takeovers Code

14 March 2002 Media Statement

Swain gives an update on the Takeovers Code

Commerce Minister Paul Swain says in the short time the Takeovers Code has been up and working it has proved its worth.

The Takeovers Code came into effect last July – its intention was to ensure that small investors get fair treatment in takeovers situations and to improve overseas perceptions of our market.

Paul Swain today told a Butterworths seminar on the Takeovers Code that industries are telling the government that the code is working.

“Industry feedback on the effectiveness of the code since its implementation has been generally very supportive,” Paul Swain said.

“Incidents such as the Lion Nathan takeover of Montana Wines have illustrated how the Code has provided a more transparent and certain process in takeover situations. In that case the Takeovers Panel proved very effective in enforcing the Code.

“The Takeovers Code is part of the government’s three three-part reform package of securities laws including the introduction of a Takeovers Code, the introduction of the Securities Markets and Institutions Bill; and a fundamental review of securities trading laws,” Paul Swain said.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Werewolf: What Does Winston Peters Want His Legacy To Be?

A lot of people in New Zealand seem to resent Winston Peters and the power that he appears to have. “Appears” being the operative word. In reality, Peters will have power only up to the point that he uses it.

By next week, he’ll have become just another junior player in an MMP governing arrangement, battling to hold onto the gains he was promised. More>>


Rising Toll: Road Safety Needs To Be A Higher Priority

Official advice released to the Green Party under the Official Information Act shows that the previous National Government dismissed an option to make road safety its most important transport priority after being told the road toll was rising. More>>


Wellington.Scoop: Arrests At Blockade Of "Weapons Expo"

“We encourage people in Wellington to get down to the Westpac Stadium now for a day of awesome peace action. There will be plenty of food, music and activities to keep us sustained through the day.” More>>


Rorschach Restructuring: PSA Taking Inland Revenue To Court Over Psychometrics

The Public Service Association will be seeing Inland Revenue in Employment Court over its intention to psychometrically test employees reapplying for their roles at the department as part of its controversial Business Transformation restructuring plan. More>>


Nuclear Disarmament: Nobel Peace Prize 2017 Awarded To ICAN

Congratulations from iCAN Aotearoa New Zealand to international iCAN, the other iCAN national campaigns and partner organisations, and the countless organisations and individuals who have worked so hard for a nuclear weapons-free world since 1945. More>>


Expenses: Waikato DHB CEO Resigns

An independent inquiry has identified that Dr Murray had spent more than the agreed $25K allocated for relocation costs, and other unauthorized expenses involving potential financial breaches of the chief executive’s obligations. More>>


Wellington.Scoop: Sad About The Trolley Buses?

The Regional Council’s MetLink is today spending money to tell us that it really loves Wellington’s trolley buses, even though they’re all being taken off our roads by the end of this month. More>>


Post-Election: Preliminary Coalition Talks Begin

New Zealand First will hold post-election preliminary discussions in Wellington with the National Party tomorrow morning and the Labour Party tomorrow afternoon. More>>




Featured InfoPages

Opening the Election