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ARTICLE · 06 AUGUST 2013

Takeovers Panel improves processes

HopgoodGanim
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ASIC recently announced changes to key regulations regarding the Takeovers Panel's process of decision-making.

AustraliaCorporate/Commercial Law
Michael Hansel
Michael Hansel
Helen Liang
Helen Liang
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The Australian Securities and Investment Commission (ASIC) recently announced changes to key regulations regarding the Takeovers Panel's (Panel) process of decision-making.

These amendments are expected to further streamline the Panel's process and efficiency.

The main amendments are:

  1. The Panel is no longer required to provide reasons at the time of notifying persons that the Panel has decided not to conduct proceedings. This will enable the Panel to communicate decisions to the parties and the market faster. Reasons for these decisions will be provided later to the parties and the market.
  2. The Panel is no longer required to make and retain a transcript of the proceedings of a conference.

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