These are the Panel’s reasons for declining to commence proceedings in relation to the affairs of Sydney Gas Limited in response to an application by Queensland Gas Company Limited.

These are the Panel’s reasons for deciding to make a declaration of unacceptable circumstances in relation to the affairs of Citect Corporation Limited.

These are the Panel’s reasons for deciding to decline part of the application by Patrick Corporation Limited relating to the acceptability of the institutional acceptance facility which Toll Holdings Limited had established in relation to its takeover offer for all of the shares in Patrick. The other part of the application related to various disclosure issues regarding the content of Toll’s seventh supplementary bidder’s statement. Following a request from the Panel to use their best endeavours to resolve any of the disclosure issues that they could between themselves, the parties advised the Panel that Toll had undertaken to Patrick to issue a further supplementary bidder’s statement. Patrick accepted that Toll’s additional disclosure had addressed sufficient of its disclosure concerns for it not to press that part of its application.

These are the Panel’s reasons for its decision to consent to Toll Holdings Limited withdrawing its application to the Panel dated 8 April 2006. The application was for a declaration of unacceptable circumstances and orders in relation to a supplementary target’s statement by Patrick Corporation Limited.