CodeWord Issue 04 - December 2001

In this issue

The Code’s First 100+ Days

The Takeovers Code was a long time coming. Its commencement on 1 July 2001 was almost 10 years after the Takeovers Panel Advisory Committee was appoin...

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Denis Byrne joins the Panel

Australian commercial lawyer, Denis Byrne, has been appointed to the Takeovers Panel by the Minister of Commerce, Hon Paul Swain. Mr Byrne has been a ...

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Comments on Exemptions

Time required to process exemption applicationsIf an exemption is required this should be taken into account early in the process of the transaction. ...

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Comment on Rule 16

As an exception to the fundamental rule contained in rule 6 of the Takeovers Code, a person may become the holder or controller of an increased percen...

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Comments on Independent Advisers

Time and costs of processing approvalsApplications for approval to act as an independent adviser should be sent to the Panel as early as possible and ...

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Comments on Enforcement

Offeror’s statement - disclose upstream partiesClause 6 of Schedule 1 of the Code relates to shares of the target company held or controlled by the of...

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