Commonwealth Consolidated Regulations

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION REGULATIONS 2001 - REG 16

  (1)   In addition to any other provision of this Part, the Takeovers Panel may:

  (a)   direct that 2 or more related matters are to be considered in Takeovers Panel proceedings; and

  (b)   identify the issues to be considered by the Takeovers Panel in its proceedings; and

  (c)   give directions to a person about:

  (i)   the manner in which a matter may be presented, either orally or in writing, to the Takeovers Panel; and

  (ii)   the duration of the time in which the person may address the Takeovers Panel or give evidence in Takeovers Panel proceedings; and

  (d)   give directions to parties to lodge with the Takeovers Panel specified documents relating to Takeovers Panel proceedings; and

  (e)   give directions to persons about the time at or before which documents must be lodged with the Takeovers Panel; and

  (f)   extend the time at or before which documents must be lodged with the Takeovers Panel; and

  (g)   invite a person who is not a party to make a submission in relation to Takeovers Panel proceedings; and

  (h)   permit a person to amend or withdraw information or evidence given to, or a document lodged with, the Takeovers Panel for the purposes of Takeovers Panel proceedings; and

  (i)   direct that Takeovers Panel proceedings be suspended for a period determined by the Takeovers Panel; and

  (j)   direct that Takeovers Panel proceedings be deferred until a day determined by the Takeovers Panel.

  (2)   In the performance of its functions and the exercise of its powers in relation to Takeovers Panel proceedings, the Takeovers Panel:

  (a)   is not bound by the rules of evidence; and

  (b)   must consider all relevant information contained in:

  (i)   a submission that is lodged with the Takeovers Panel; and

  (ii)   other evidence that is given to the Takeovers Panel; and

  (c)   must act:

  (i)   as fairly and reasonably; and

  (ii)   with as little formality; and

  (iii)   having regard to the time available before the decision must be made, in as timely a manner;

    as the requirements of this Part, and the corporations legislation (other than the excluded provisions), and a proper consideration of the matters before the Takeovers Panel permit.