CodeWord Issue 17 - November 2006

In this issue

Amendments to the Takeovers Act and the Code

The passage of the Securities Legislation Bill, which amends significant areas of securities and takeovers laws, has resulted in amendments to the Tak…

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Changes to the definition of Code company

The definition provisions in the Code and in the Takeovers Act that specify the companies to which the Code applies have been changed for both listed …

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Misleading and deceptive conduct

Another significant change to the Code and to the Takeovers Act is the introduction of new provisions which will prohibit misleading or deceptive cond…

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Changes to the Panel’s enforcement powers

Section 32 of the Takeovers Act provides the Panel with its principal powers for dealing with concerns about compliance with the Takeovers Code.


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Changes to the penalties and remedies available under the Takeovers Act

The powers of the High Court under the Takeovers Act for providing civil remedies for contraventions of the Code and also in relation to penalties and…

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Transitional arrangements

The transitional provisions mean that the new laws will have no impact on persons or entities that acquired securities before the commencement of the …

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