TP09/074
The Panel has conducted a review of its Rules for Proceedings and has posted a draft set of revised rules on its website for public consultation.
The original Rules for Proceedings were adopted in November 2001 and were revised in 2004. The Panel decided that it was appropriate to review them in light of experience and as part of its simplification process. The proposed Procedural Rules are a complete rewrite and incorporate existing Guidance Note 8 on Matter Procedures. If the rules are adopted, GN 8 will be withdrawn. The proposed rules also incorporate related legislative references. The document has been prepared with a view to publication on the web, using hyperlinking to make references easier for users to view.
A subcommittee1 was formed to help develop the new draft rules, and the Panel thanks them for their assistance.
The Panel seeks input from interested practitioners and market participants on the revised Rules.
Comments on the revised Rules can be provided on or before 26 October 2009. Comments should be emailed to takeover@takeovers.gov.au.
The Consultation Paper is available on the Panel's website on the consultation page.
Allan Bulman
Director, Takeovers Panel
Level 10, 63 Exhibition Street
Melbourne VIC 3000
Ph: +61 3 9655 3597
allan.bulman@takeovers.gov.au
1 Panel members – Diana Chang, John Fast, Andrew Lumsden, Peter Scott, Robert Sultan. Non-panel member – David Friedlander