Takeovers Panel
PARTS ONE TO FIVE OF THE TAKEOVERS CODE
A CONSULTATION PAPER ISSUED BY THE TAKEOVERS PANEL
June 2010
- INTRODUCTION
- Request for comments on this paper
- Official Information Act 1982
- Issues addressed in the Discussion Paper
- POLICY OBJECTIVES
- PROBLEM IDENTIFICATION AND OPTIONS
- A. Definitions in the Code
- The problem
- Options
- Option 1: Maintain the status quo
- Option 2: Grant exemptions on either a case-by-case basis or a class exemption
- Option 3: Amend the Code (preferred option)
- B. Identity of upstream acquirer or allottee of voting securities
- The problem
- Options
- Option 1: Maintain the Status quo
- Option 2: Amend the Code (preferred option)
- C. Inflexibility of notice of meeting requirements for allotments of voting securities
- The problem
- Options
- Option 1: Maintain the status quo
- Option 2: Amend the Code (preferred option)
- D. Invocation of defeating conditions in an offer
- The problem
- Overseas jurisdictions
- Options
- Option 1: maintain the status quo
- Option 2: Amend the Code to provide that Panel's consent required to invoke conditions
- Option 3: Amend the Code to introduce restrictions on offeror's invoking defeating conditions (preferred option)
- E. Requirement for a further independent adviser's report
- The problem
- Options
- Option 1: Maintain the status quo
- Option 2: Amend the Code (preferred option)
- F. Acceptances by the offeror
- The problem
- Options
- Option 1: Maintain the status quo
- Option 2: Amend the Code (preferred option)
Download the consultation paper as a PDF file (96 KB)
Index
|
Next