The Takeovers Panel is seeking public submissions on the effect of takeovers of companies that have a controlling stake in New Zealand firms.
The issue arose recently when BG Group proposed a takeover of Origin Energy in Australia. Origin had a 51% shareholding in Contact Energy.
The panel says it wants a clear and transparent policy on dealing with "upstream takeovers" so that it can provide clarity on the rules and certainty to the market.
Submissions close on 12 June.