Panel's Reasons in Relation to Advance Property Fund

The Takeovers Panel today released its reasons for its decision not to make a declaration of unacceptable circumstances in relation to the affairs of Advance Property Fund (Advance ). The decision was in response to an application by Mirvac Funds Limited (Mirvac ) on 18 September 2000 for such a declaration.

The members of the sitting Panel are Ian Ramsay (sitting President), Alice McCleary (deputy President) and Jennifer Seabrook.

The Panel announced its decision, and the basis of its decision, on 28 September, 2000.