New Name for the Takeovers Panel [11/10/2001] The Takeovers Panel

Thursday, 11 October 2001

NEW NAME FOR THE TAKEOVERS PANEL

The President of the Takeovers Panel (previously the Corporations and Securities Panel) Mr Simon McKeon, has welcomed the introduction of the new name for the body.

The name change took effect as part of the Transitional Provisions of the Government's Financial Services Reform Act 2001.

The Takeovers Panel was formed in January 1991 when the Corporations Law became effective. Its original name was intended to be a reflection of the breadth of the potential matters that could be referred by the then Australian Securities Commission to the Panel. It included share buy-backs, shareholder approved transactions and other acquisitions of shares. In March 2000, the Panel's role and scope in relation to takeovers was significantly expanded with the introduction of the CLERP Act. The majority of the Panel's work is now in its dispute resolution role in regards to takeovers.

Mr McKeon said that the new name reflected the Panel's current work more closely, and was the name most people in the mergers and acquisitions field called the Panel already.

The Panel's website address remains the same http://www.takeovers.gov.au.

Nigel Morris
Director,
Takeovers Panel
Level 47 Nauru House, 80 Collins Street, Melbourne VIC 3000
Ph: +61 3 9655 3501
nigel.morris@takeovers.gov.au