The Takeovers Panel advises that it has conducted a review of its Rules for Proceedings and has posted the draft revised rules on its website.
The original Rules for Proceedings were adopted in November 2001 and the Panel decided that it was appropriate to review them in light of subsequent experience.
The Panel has been assisted in its review by a subcommittee comprising Panel members (Simon McKeon, Nerolie Withnall and Celia Searle) and interested practitioners from around Australia (Garry Besson (Gilbert + Tobin, Sydney), Bruce Dyer (Blake Dawson Waldron, Melbourne), Neil Fearis (Fearis Salter Power Shervington, Perth) and Richard Kriedemann (Allens Arthur Robinson, Sydney)).
The Panel seeks input from interested practitioners and market participants on the revised Rules. The revised Rules, marked to show changes from the current Rules, together with an explanatory note discussing the reasons for the more significant changes are at: Public Consultation.
Comments on the revised Rules are to be provided on or before 28 May 2004.
Counsel, Takeovers Panel
Level 47, 80 Collins Street
Melbourne, VIC 3000
Ph: +61 3 9655 3560