NO.017

TAKEOVERS PANEL APPOINTMENTS

The Treasurer today announced the reappointment of 12 members, the appointment of eight new members and the appointment of a New Zealand representative to the Takeovers Panel.

The purpose of the Takeovers Panel is to provide a mechanism for peer review of takeovers activity, with the aim of being more efficient, less formal and more expeditious than the courts.  The functions and powers of the Panel are conferred on by the Corporations Act 2001 and the Australian Securities and Investments Commission Act 2001.

The following 12 members were reappointed to the Panel:  Messrs Guy Alexander, Graham Bradley, Braddon Jolley, Byron Koster, Kevin McCann AM, Norman O’Bryan SC and Chris Photakis and Mesdames Kathleen Farrell, Teresa Handicott, Alison Lansley, Irene Lee and Marie McDonald.

The following new members were also appointed:

• Mr Tom Bathurst QC – Queens Counsel, New South Wales bar;
• Mr Garry Besson – Partner, Gilbert and Tobin, Sydney;
• Mr Geoff Brunsdon – Managing Director and Head of Investment Banking, Merrill Lynch International (Australia) Ltd;
• Mr Rodd Levy – Partner, Freehills Melbourne;
• Mr Robert Sultan – Partner, Corporate and Commercial Group at Deacons, Melbourne;
• Mr Anthony Sweetman – Managing Director, Head of Mergers and Acquisitions, UBS Australia;
• Ms Catherine Brenner – various non-executive directorships and Managing Director, ABN AMRO Rothschild; and
• Mr David Jones  – Chairman of the New Zealand Takeovers Panel.

Mr Jones has been appointed until 7 March 2011 and the other new members have all been appointed until 7 March 2010.

These appointments continue the high level of skills and experience available to the Takeovers Panel, ensuring that the Panel has appropriately qualified members to deal with the differing issues which are raised in applications.

The Treasurer said: ‘I would like to express my appreciation to these new and reappointed members, and to the current and previous members, for the commitment to the Panel.  Their skills and experience will help ensure that the Panel continues to provide a fair, informal and timely means of dispute resolution of takeovers activity.’

The Panel now has 48 members, all of whom are appointed on a part-time basis.

CANBERRA

28 March 2007

Contact:

David Gazard – 02 6277 7340