On 30 April 2021, the Government announced that it would consult on expanding the role of the Takeovers Panel in control transactions, including potentially giving advance rulings and expanding the Panel’s remit to include members’ schemes of arrangement, with an aim of reducing the time and costs of mergers and acquisitions.
Treasury is seeking feedback on:
- the operation of takeovers and schemes generally, and whether they are meeting the broader policy objectives in respect of control transactions in Australian law
- the role of the Takeovers Panel and ASIC in regulating takeovers generally
- the role of the Court, the Takeovers Panel, and ASIC in regulating schemes generally.
Written submissions are sought from stakeholders in response to the questions contained in the consultation paper. Other input which provides further information, insights or suggestions relevant to the role and remit of the Takeovers Panel are also encouraged.
You can submit responses to this consultation up until 03 June 2022. Interested parties are invited to comment on this consultation.
While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.
All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment.
Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.
View our submission guidelines for further information.
How To Respond
Address written submissions to:
Market Conduct Division
Parkes ACT 2600