Document ID: chunk:federal_register_of_legislation:F2024C01150:reg:16
Version: federal_register_of_legislation:F2024C01150
Segment Type: reg
Provision Reference: reg 16
Character Range: 60575–62769

16  Powers of Takeovers Panel
 (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.

Division 2—Applications