16Powers of Takeovers Panel

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.