One year after its set up the new Takeovers Panel was an overwhelming success and had improved the efficiency of dispute resolution, the Minister for Financial Services & Regulation, Joe Hockey, said today.
"The changes to the Panels role that took effect on 13 March 2000 have unquestionably improved takeover dispute resolution in Australia," the Minister said.
"Having takeover disputes considered by respected members of the business community has meant that shareholders are given better information sooner about takeovers where they have an interest."
In the year since its powers were enhanced, the Panel has been instrumental in making sure shareholders had high quality information sooner than used to be the case when takeovers where subject to lengthy and complex litigation.
"I would like to congratulate the Panel president Simon McKeon and the other Panel members, as well as the staff of the Panel Executive, and thank them for the time and effort they have put into the Panels activities over the past year."
The Minister also announced the appointment of 18 new part-time members to the Panel, along with the reappointment of three current part-time members (see attached list).
"Consistent with previous appointments these new members have outstanding backgrounds, experience and a wide range of skills in their fields, including financial and legal aspects of takeover activity," the Minister said.
"The panel has drawn on a group of 43 Australians from many parts of the country and a wide variety of backgrounds but with a common experience that I believe will help ensure that Australian shareholders get the best possible information as quickly as possible. This is another example of this Government working hard to ensure Australians enjoy some of the worlds best corporate regulation."
"I can think of no better sign of confidence in the Panel than the willingness of so many highly qualified people to serve as part-time members. The skills and experience they will bring to the Panel will further enhance its ability to effectively resolve takeover disputes in a timely and low-cost manner."
A list of current and new Panel members is attached.
12 March 2001
Media contact: Matthew Abbott, Minister's office, 02 6277 7230, 0413 076 213
Current Corporations and Securities Panel Members
| Name | Position/Occupation | State |
| Ms Robyn AHERN | Company Director | WA |
| Ms Elizabeth ALEXANDER AM^ | Partner, PricewaterhouseCoopers | VIC |
| Ms Ilana ATLAS* | General Counsel & Group Secretary, Westpac Banking Corporation | NSW |
| Justice Robert AUSTIN* | Judge, Supreme Court of NSW | NSW |
| Dr Annabelle BENNETT SC | Barrister | NSW |
| Mr Anthony BURGESS* | Head of Corporate Finance Australasia, Deutsche Bank | VIC |
| Mr Michael BURGESS | Adjunct Professor School of Business and Enterprise University of South Australia |
SA |
| Ms Carol BUYS* | Managing Principal, AMP Consulting | NSW |
| Mr Denis BYRNE^ | Director, Denis Byrne & Associates P/L | QLD |
| Mr Peter CAMERON | Partner, Allen, Allen & Hemsley | NSW |
| Ms Luise ELSING* | Manager (Listings), Australian Stock Exchange | NSW |
| Ms Kathleen FARRELL* | Consultant, Freehills | NSW |
| Mr David GONSKI* | Chairman, Morgan Stanley Dean Witter | NSW |
| Ms Teresa HANDICOTT* | Partner, Corrs Chambers Westgarth | QLD |
| Mr Brett HEADING^ | Partner, McCullough Robertson | QLD |
| Ms Meredith HELLICAR | CEO, Corrs Chambers Westgarth | NSW |
| Mr Braddon JOLLEY* | Partner, Freehills | NSW |
| Dr Tro KORTIAN* | Lecturer, Finance Discipline, University of Sydney |
NSW |
| Ms Alison LANSLEY* | Partner, Mallesons Stephen Jaques | VIC |
| Ms Irene LEE* | Company Director | NSW |
| Ms Maria MANNING | Company Secretary, Queensland Cotton | QLD |
| Ms Louise McBRIDE | Partner, Deloitte Touche Tohmatsu | NSW |
| Mr Kevin McCANN* | Partner, Allen, Allen & Hemsley | NSW |
| Ms Alice McCLEARY | Company Director | SA |
| Ms Marie McDONALD* | Partner, Blake Dawson Waldron | VIC |
| Mr Simon McKEON (President) |
Executive Director, Macquarie bank | VIC |
| Ms Marian MICALIZZI | Company Director | QLD |
| Mr Simon MORDANT | Managing Director, Caliburn Partnership P/L | NSW |
| Ms Robyn PAK-POY* | Partner, Minter Ellison | SA |
| Mr Chris PHOTAKIS* | Director, KPMG Corporate Finance (Aust) | NSW |
| Professor Ian RAMSAY | Professor of Law, University of Melbourne | VIC |
| Mr Scott REID* | Managing Director, JP Morgan Chase | NSW |
| Ms Maxine RICH | Company Director | NSW |
| Ms Fiona ROCHE | Managing Director, Estates Development Co | WA |
| Mr Trevor ROWE | Chairman, Investment Banking, Salomon Smith Barney (Australia) | NSW |
| Justice Kim SANTOW OAM* | Judge, Supreme Court of NSW | NSW |
| Ms Jennifer SEABROOK | Director, Gresham Partners | WA |
| Mr Jeremy SCHULTZ | Managing Partner, Finlaysons | SA |
| Mr Leslie TAYLOR | General Counsel, Commonwealth Bank of Australia |
NSW |
| Mr Michael TILLEY | Chairman, Merrill Lynch Australasia |
VIC |
| Ms Nerolie WITHNALL | Partner, Minter Ellison | QLD |
| Ms Karen WOOD | General Counsel and Company Secretary, Bonlac Foods Limited | VIC |
| Mr Peter YOUNG | Executive Vice-Chairman, ABN-AMRO | NSW |
* Indicates new appointment
^ Indicates reappointment