Panel Publishes Consultation Paper - Revised Guidance Note 14 – Funding arrangements

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The Takeovers Panel today released a Consultation Paper seeking public comment in relation to a revised draft Guidance Note 14 on Funding arrangements for bids.

The revisions address the recent decision of the Federal Court in ASIC v Mariner Corporation1and clarify the policy basis for the guidance note. They also update references to ASIC's revised Regulatory Guide on Takeover bids.

The Panel seeks comments from interested persons on the draft Guidance Note by 26 October 2015. Comments should be emailed to

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

1. Australian Securities and Investments Commission v Mariner Corporation Limited [2015] FCA 589