CMI Limited — Application for Judicial Review and Request for Stay [07/04/2011] The Takeovers Panel

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TP11/26
Thursday, 7 April 2011

CMI Limited — Application for Judicial Review and Request for Stay

The Takeovers Panel has been served with a Federal Court application dated 5 April 2011 for judicial review of its declaration of unacceptable circumstances and orders in the matter of CMI Limited [2011] ATP 4 (the Application). Peter Day, John Keeves and Andrew Sisson in their capacity as members of the Takeovers Panel, who presided over the initial Panel's proceedings, are named as the respondents.

The Application is by Tinkerbell Enterprises Pty Limited as trustee for The Leanne Catelan Trust (Tinkerbell) and is made under sections 5 and 16 of the Administrative Decisions (Judicial Review) Act 1977 (Cth) and section 39B(1A)(c) of the Judiciary Act 1903 (Cth).

The Takeovers Panel has received a request from Tinkerbell for a variation to the stay of the initial Panel's final orders, on the basis that they have now made an application for judicial review of the Panel's decision. The Panel has granted the request (Annexure A).

Details of the Panel's declaration and orders under review have previously been published (see TP11/15 and TP11/16).

Allan Bulman
Director, Takeovers Panel
Level 10, 63 Exhibition Street
Melbourne VIC 3000
Ph: +61 3 9655 3597
allan.bulman@takeovers.gov.au


Annexure A

Corporations Act
Section 657D
Variations of Orders

CMI Limited

Pursuant to section 657D(3) of the Corporations Act 2001 (Cth) the Takeovers Panel varies the orders in CMI Limited dated 25 February 2011 by staying orders 2, 3, 4 and 7 until the earliest of:

  1. the conclusion of the application for review by Tinkerbell Enterprises Pty Limited as trustee for the Leanne Catelan Trust filed in the Federal Court of Australia on 5 April 2011 or
  2. further order of the Panel.

Alan Shaw
Counsel
with authority of Kathleen Farrell
President of the review Panel
Dated 7 April 2011