TP10/018
The Takeovers Panel has today published revised Procedural Rules.
The Panel issued a consultation draft of the rules in October 2009. It received 5 submissions and has taken them into account and made further changes. These are summarised, and the Panel's response is set out, in the public consultation response document which is available from the Panel's website on the consultation page.
The new rules will apply in respect of all applications made on or after 1 June 2010, at which time they replace the rules of procedure dated 18 June 2004 (as amended) and Guidance Note 8 on Matter Procedures. The former rules and Guidance Note 8 continue to apply to an application made to the Panel before the new rules take effect. The new rules are available from the Panel's website on the rules for proceedings page.
The former rules, Guidance Note 8 and the public consultation draft will remain on the Panel's website.
A subcommittee1 was formed to help develop and finalise drafting of the new rules and the Panel thanks them for their assistance.
Allan Bulman
Director, Takeovers Panel
Level 10, 63 Exhibition Street
Melbourne VIC 3000
Ph: +61 3 9655 3597
allan.bulman@takeovers.gov.au
1 Diana Chang, John Fast, Andrew Lumsden, Peter Scott, Robert Sultan and David Friedlander