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ARTICLE · 01 SEPTEMBER 1998

The Irish Takeover Panel

European Federal Credit Bank Limited
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IrelandEmployment and HR
Johnny Johnson
Johnny Johnson

By Eileen Grace and Ursula Earley

The Irish Takeover Panel ("the Panel") has been operating in Ireland since July 1, 1997. The Panel replaces the U.K. Panel on Takeovers and Mergers which previously had involvement in takeovers of Irish publicly listed companies.

The Panel differs from its UK counterpart in that it is statute based and has the power to apply to the Irish High Court for an order to enforce a ruling or decision.

The Irish Takeover Panel Act 1997 (Takeover) Rules ("the Rules") comprise rules made by the Panel under the powers granted to the Panel by the Irish Takeover Panel Act 1987 ("the Act") and are contained in the "Green Book". The Rules have been made principally to ensure that takeovers and other relevant transactions comply with the principles as set out in the schedule to the Act. The Rules also provide an orderly framework within which takeovers are conducted.

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