Takeovers Panel - Counsel

The Takeovers Panel wishes to announce that it has, with regret, accepted the resignation of Mr George Durbridge as Counsel to the Panel.

The President of the Panel, Mr Simon McKeon, said that the Panel was very sad to have received George's decision. George has advised the Panel that he has decided to pursue other challenges.

George was the founding Counsel of the Takeovers Panel and served the Panel for 6 years. He is very highly respected as a leader in the area of takeovers law and policy in Australia and a wide range of other areas of the law. He has made an enormous contribution to the development of takeovers law and policy in Australia.

Prior to serving as the Panel's senior legal adviser, George had been General Counsel for the Australian Securities and Investments Commission and was founding General Counsel for the ASC when Australia moved from a State based to a national corporate law regime. As Counsel for the ASC George was a member of the ASC's Regulatory Policy Group. George commenced his regulatory legal career with the NCSC in 1986. George was also seconded on a part-time basis to the Corporate Law Simplification Unit of the Attorney-General's Department in the mid 1990s and served with distinction on the Corporate Law Simplification Taskforce.

Mr McKeon said that the Takeovers Panel considered itself very fortunate to have had the benefit of a lawyer of George's calibre and breadth of legal and commercial knowledge as its founding senior legal adviser. He said that one of George's significant strengths which had been important for the Takeovers Panel was George's understanding of the commercial issues and drivers of takeovers and securities markets in general. Mr McKeon said that the Panel, and Australia's takeovers markets and practitioners, will miss George's personality and wit. The Takeovers Panel wishes George every good fortune in his new endeavours.

The Panel has commenced a worldwide recruitment programme to find a suitable Counsel. Although Mr McKeon noted it would be impossible to replace George.

A copy of the advertisement for a Counsel for the Takeovers Panel is attached.

Simon McKeon
President, Takeovers Panel
Level 47, 80 Collins Street
Melbourne VIC 3000
Ph: +61 3 9655 3500

The Takeovers Panel

Counsel

The Takeovers Panel is seeking an experienced takeovers lawyer to provide high quality, specialised legal analysis and advice to the Panel. The position will be with the Panel's Executive which is based in Melbourne (the Panel would be prepared to consider alternative arrangements with exceptional candidates).

The Panel is looking for a lawyer with high level experience in the public mergers and acquisitions area, superior understanding of the law and policy behind their regulation and a sound knowledge of the economic and financial drivers of takeovers. The successful candidate will provide in depth legal analysis and advice to Panel members in relation to individual matters before the Panel and assist in monitoring takeover bids and in the development of policy and Panel rules. The Panel envisages a full-time position but would be prepared to discuss alternative scenarios with exceptional candidates.

The Panel is the primary Australian dispute resolution forum in relation to a takeover during the life of the relevant bid. The Panel has gained widespread recognition for its commercial and pragmatic response to takeover disputes and has played a major role in ensuring an efficient and well informed market for takeovers in Australia.

The successful applicant will be offered an Australian Workplace Agreement as a Senior Executive employee under the Public Service Act.

The Panel is offering a competitive remuneration package including access to a comprehensive superannuation scheme. Employees of the Takeovers Panel are required to be Australian citizens and hold an existing security clearance or acquire a security clearance prior to commencement.

Details of this vacancy, including selection documentation, are available at www.treasury.gov.au or by e-mailing recruitment@treasury.gov.au or by calling 61 2 6263 2310 (a 24 hour answering service). General enquiries about the role can be made by calling Director of the Panel's Executive, Mr Nigel Morris on 61 3 9655 3501.

Applications should be lodged online at www.treasury.gov.au. Where this is not possible, applications addressing the selection criteria may be e-mailed to recruitment@treasury.gov.au or posted to the Recruitment Team, Department of the Treasury, Langton Crescent, Parkes ACT 2600 by close of business 2 March 2007.