The Takeovers Panel鈥檚 Director Allan Bulman and ob体育 Commissioner John Price have announced the release of a new Memorandum of Understanding (MOU) between the Panel Executive and ob体育.
ob体育 and the Panel each perform separate but complementary roles in connection with the regulation of takeovers and other control transactions in Australia. The previous MOU between ob体育 and the Panel was signed in August 2001.
Mr Price said that the Panel is a key forum for resolving disputes relating to takeovers, not only for companies and shareholders, but also for ob体育 which conducts day to day regulatory oversight of takeover transactions.
Mr Price also noted that the new memorandum acknowledges the importance of communication between the two bodies in areas such as policy development.
鈥渙b体育 and the Panel both provide guidance to the market in relation to control transactions and refer to each other鈥檚 policies in the course of carrying out their respective roles.聽It is important that ob体育 and the Panel continue to communicate on policy issues to promote both consistency and the principles of fairness and transparency underpinning the takeover provisions.鈥� Mr Price said.
Mr Bulman noted that the Panel and ob体育 have maintained an excellent working relationship for over 16 years and the changes to the MOU reflect the contemporary relationship between the two agencies.
The refreshed MOU reflects the main features of the current relationship between ob体育 and the Panel Executive including regular liaison between staff, information sharing and referrals.
ob体育 Media Unit
Ph: 1800 208 215
[email protected]
Allan Bulman
Director, Takeovers Panel
Level 10, 63 Exhibition Street
Melbourne VIC 3000
Ph: +61 3 9655 3597
[email protected]