statutory authority
A statutory authority is a body set up by law which is authorised to enact legislation on behalf of the relevant country or state. They are typically found in countries which are governed by a Westminster system, British style of parliamentar ...
of the Australian Government
The Australian Government, also known as the Commonwealth Government, is the national government of Australia
Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the ...
, is the primary Australia
Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, sma ...
n forum for resolving disputes about a takeover bid
''Takeover Bid'' is a British game show that aired on BBC One, BBC1 from 26 May 1990 until 15 July 1991. It is hosted by Bruce Forsyth and assisted by Claire Sutton (QVC presenter), Claire Sutton. The basic premise of ''Takeover Bid'' was that o ...
during the bid period itself. The panel is a peer review
Peer review is the evaluation of work by one or more people with similar competencies as the producers of the work ( peers). It functions as a form of self-regulation by qualified members of a profession within the relevant field
Field may r ...
body, made up of part-time members from the Australian investment banking
An investment bank is a financial services
Financial services are the economic services provided by the finance
Finance is the study of financial institutions, financial markets and how they operate within the financial system. It is conce ...
, legal
Law is a system
A system is a group of interacting
Interaction is a kind of action that occurs as two or more objects have an effect upon one another. The idea of a two-way effect is essential in the concept of interaction, as oppose ...
, accounting
Accounting or Accountancy is the measurement
'
Measurement is the number, numerical quantification (science), quantification of the variable and attribute (research), attributes of an object or event, which can be used to compare with other ob ...
and business
Business is the activity of making one's living or making money by producing or buying and selling products (such as goods and services). Simply put, it is "any activity or enterprise entered into for profit."
Having a business name
A trad ...
communities. Its head office is located in Melbourne
Melbourne ( ) is the capital
Capital most commonly refers to:
* Capital letter
Letter case (or just case) is the distinction between the letters that are in larger uppercase or capitals (or more formally ''majuscule'') and smaller ...
, Victoria
Victoria most commonly refers to:
* Victoria (Australia), a state of the Commonwealth of Australia
* Victoria, British Columbia, provincial capital of British Columbia, Canada
* Victoria (mythology), Roman goddess of Victory
* Victoria, Seychelles ...
.
Establishment and powers
The panel was established under section 171 of theAustralian Securities and Investments Commission Act
Australians, colloquially referred to as "Aussies", are the citizens, nationality, nationals and individuals associated with the country of Australia.
Between 1788 and the Second World War, the vast majority of settlers and immigrants came ...
and is given various powers under Part 6.10 of the Corporations Act
The Corporations Act 2001 (Cth) (the Corporations Act, or CA 2001) is an Act of the Commonwealth of Australia which sets out the laws dealing with business entity, business entities in Australia at federal and interstate level. It deals primaril ...
. The panel has a full-time executive base who assist its members, draft policy, and provide continuity to the panel in its decisions.
The Takeovers Panel has three main powers:
# to declare circumstances in relation to a takeover, or to the control of an Australian company, to be "unacceptable circumstances";
# to protect the rights of persons (especially target company shareholders) during a takeover bid and to ensure that a takeover bid proceeds (as far as possible) in a way that it would have proceeded if the unacceptable circumstances had not occurred; and
# various review powers.
The panel has similar peers in other jurisdiction
Jurisdiction (from Latin
Latin (, or , ) is a classical language
A classical language is a language
A language is a structured system of communication
Communication (from Latin ''communicare'', meaning "to share" or "to be i ...
s, such as the London
London is the capital
Capital most commonly refers to:
* Capital letter
Letter case (or just case) is the distinction between the letters that are in larger uppercase or capitals (or more formally ''majuscule'') and smaller lowerc ...
Panel on Takeovers and Mergers
The Panel on Takeovers and Mergers, or more commonly The Takeover Panel, is the regulatory body charged with the administration of City Code on Takeovers and Mergers, The Takeover Code.
It was set up in 1968 and is located in London, England.
It ...
in the .
References
External links
Homepage
{{Business in Australia Australian law government bodies Financial regulation in Australia Mergers and acquisitions
Commonwealth Government agencies of Australia
Government agencies of Australia, Entities
Government of Australia
ja:オーストラリアの連邦行政機関
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