Proposed Amendments to the Takeovers Code

Published 1 April 2003

A discussion paper on proposed amendments to the Takeovers Code was released this month.

The proposed amendments are of a technical nature and do not change the fundamental policy underlying the Code.

The Panel’s proposed changes to the Code aim to:

  • improve some of the wording;
  • remove a few anomalies;
  • reduce potential confusion of offerees and voting shareholders; and
  • facilitate the efficient operation of the market for corporate control.

The Panel welcomes submissions on its proposals and is open to alternative suggestions and comments.

The discussion paper Proposed Amendments to the Takeovers Code is published on our website and available in hard copy from our offices, phone (04) 471 4618.

Closing date for submissions is Monday 19 May 2003.