The Panel, Hamish Douglass, Andrew Lumsden (sitting President) and Robert Sultan, declined to make a declaration of unacceptable circumstances on the basis that BBC and other parties agreed to provide an undertaking. They undertook to seek security holder approval before proceeding with stage 1 of the Lend Lease proposal if a superior proposal comes forward before 5.00 pm on 17 November 2008. This satisfied the preliminary primary concern the Panel expressed to the parties that entry into the Lend Lease proposal had a chilling effect on the auction for control of BBC.

The Panel, Byron Koster, Alice McCleary and Simon Mordant (sitting President), declined to conduct proceedings on an application concerning an alleged association between two shareholders regarding a change to the composition of the board of Boulder and disclosure issues concerning those shareholdings.