Consultations

The Panel undertakes public consultation in relation to developing rules and policy.  The public consultation process helps market participants understand the objectives of the Panel’s proposals and allows the Panel to consider feedback from its stakeholders in formulating those proposals.

Proposals for rules or policy guidance can come from any source, including members of the Panel, third parties or the Panel Executive.  Such proposals may be generated from issues that come before the Panel, problems a third party encounters or changes in takeovers practice or the law.  The Panel welcomes submissions (which can be made via email to the Panel Executive at takeovers@takeovers.gov.au).

The Panel generally publishes all submissions received during the public consultation process (unless the respondent requests confidentiality). The Panel also publishes a response to submissions addressing the main comments received and the Panel’s reasons for adopting or rejecting them. For further information regarding the Panel’s approach to public consultations, please refer to the Public consultations process page.


Current Consultations

There are no current consultations.

Past Consultations

Consultation period Sort ascending Subject Consultation paper Submissions Response statement
2 October 2020 - 23 October 2020 Procedural Rules
10 April 2019 - 31 May 2019 Equity Derivatives
14 March 2018 - 20 April 2018 Unacceptable Circumstances (Truth in Takeovers)
23 February 2018 - 6 April 2018 Rights Issues
14 September 2016 - 24 October 2016 Frustrating Action
2 September 2016 - 14 October 2016 Remedies (undertakings)
6 October 2015 - 26 October 2015 Funding Arrangements (clarifications following ASIC v Mariner)
7 July 2015 - 1 September 2015 Shareholder Intention Statements
16 March 2015 - 15 April 2015 Reviewing Decisions (consent to a review)
16 March 2015 - 10 April 2015 Remedies (undertakings)
10 January 2014 - 28 February 2014 Dividends
10 January 2014 - 28 February 2014 Takeover Documents (accessible documents)
6 January 2014 - 14 February 2014 Frustrating Action
7 December 2011 - 3 February 2012 Takeover Documents
23 December 2010 - 4 February 2011 Minimum Bid Price, Broker Handling Fees and Trust Scheme Mergers Submissions not published
10 December 2010 - 21 January 2011 Frustrating Action Submissions not published
20 April 2010 - 21 May 2010 Unacceptable Circumstances, Recommendations and Undervalue Statements Submissions not published
1 October 2009 - 26 October 2009 Procedural Rules Submissions not published
13 May 2009 - 30 June 2009 Lock-Up Devices, Frustrating Action, Funding Arrangements and Rights Issues Submissions not published
10 September 2007 - 7 December 2007 Equity Derivatives

Submissions not published
21 February 2007 - 6 April 2007 Insider Participation in Control Transactions TP07/004: Insider Participation in Control Transactions - Panel Publishes Draft…


Submissions not published
9 November 2005 - 24 February 2006 Collateral Benefits Submissions not published
8 November 2005 - 16 December 2005 Rights Issues
Submissions not published
13 October 2005 - 16 December 2005 Correction of Takeover Documents TP05/73: Panel Release of Draft Guidance Notes for Public Consultation

No submissions received TP06/109: Takeovers Panel Publishes Revised Guidance Note on Correction of Take…
13 October 2005 - 16 December 2005 Takeovers Documents (wrap information and broker valuations) TP05/73: Panel Release of Draft Guidance Notes for Public Consultation

Submissions not published TP06/119: Takeovers Panel Publishes Guidance Note on Takeover Documents
18 July 2005 - 30 September 2005 Rights Issues
Submissions not published
27 October 2004 - 1 December 2004 Lock-Up Devices TP04/100: Revised Guidance Note 7: Lock-Up Devices – Panel Releases Consultatio…

Submissions not published TP05/20: Panel Releases Revised Guidance Note 7 – Lock-Up Devices
20 April 2004 - 28 May 2004 Procedural Rules TP04/28: Revised Rules for Panel Proceedings – Panel Releases Consultation Draft


No submissions received TP04/048: Takeovers Panel Releases Revised Rules for Proceedings
27 February 2004 - 8 April 2004 Correction of Takeover Documents TP04/16: Correction of Takeover Documents – Panel Publishes Draft Guidance Note…

Submissions not published
30 October 2003 - 11 December 2003 Funding Arrangements TP03/109: Panel Publishes for Comment Draft Guidelines on Financing Arrangement…

Submissions not published
29 September 2003 - 7 November 2003 Trust Scheme Mergers TP03/93: Listed Trust and Managed Investment Scheme Mergers: Panel Releases Dra…

Submissions not published TP04/26: Panel Publishes Final Guidance on Trust Schemes

1 March 2003 - 9 May 2003 Broker Handling Fees TP03/37: Panel Publishes Guidance Note on Broker Handling Fees for Comment

Submissions not published
7 June 2002 - 19 July 2002 Conflicts of Interest TP02/32: Panel Releases Draft Guidance on Conflicts of Interest

Submissions not published
1 May 2002 - 12 July 2002 Frustrating Action TP02/30: Panel Releases Draft Guidance Note on Frustrating Action

Submissions not published
7 March 2002 - 26 April 2002 Public Consultation Public Consultation Procedure - Draft Guidance

TP02/20: Panel Publishes Guidance Note on its Consultation Procedures
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18 January 2002 - 1 March 2002 Costs Orders TP02/07: Panel Releases Draft Guidance on Costs Orders

Submissions not published
2 August 2001 - 14 September 2001 Lock-up Devices CSP01/67: Panel Releases Policy on Lock-up Devices for Comment

Submissions not published TP01/102: Panel Releases Final Guidance on Lock-up Devices
4 April 2001 - 18 May 2001 Restraining Dispatch CSP01/29: Panel Issues Draft Policy on Restraining Dispatch

Guidance Note 5: Restraining Dispatch of Documents (superseded) 03/04/2001 – Is…
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2 March 2001 - 12 April 2001 Remedies and Enforcement CSP01/16: Panel Publishes Two Policies for Comment – Substantive Unacceptabilit…

Remedies and Enforcement – Discussion Draft
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2 March 2001 - 12 April 2001 Unacceptable Circumstances CSP01/16: Panel Publishes Two Policies for Comment – Substantive Unacceptabilit…

Guidance Note 1: Unacceptable Circumstances (superseded) 28/02/2000 - Issue 1
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19 July 2000 - 18 August 2000 Reviewing Decisions CSP00/016: Panel publishes draft policies for comment

Reviewing Decisions – Discussion Draft
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19 July 2000 - 18 August 2000 Making Rules CSP00/016: Panel publishes draft policies for comment

Making Rules – Discussion Draft
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2 March 2000 - 31 March 2000 Procedural Rules CSP00/001: Takeovers Panel Prepares for New Regime

Submissions not published TP01/099: Panel Finalises Rules for Proceedings
28 March 2000 Minimum Bid Price CSP00/005: Policy: Minimum Price Requirement s621(3) & (4)

Policy on the Minimum Price Requirement - s621(3) & (4)
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28 February 2000 Unacceptable Circumstances Unacceptable Circumstances – Discussion Draft -