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Companies Act, 2008 (Act No. 71 of 2008)

Chapter 8 : Regulatory Agencies and Administration of Act

Part C : Takeover Regulation Panel

201. Functions of Panel

 

 

1) The Panel is responsible to—
a) regulate affected transactions and offers to the extent provided for, and in accordance with, Parts B and C of Chapter 5 and the Takeover Regulations;
b) investigate complaints with respect to affected transactions and offers in accordance with Part D of Chapter 7;
c) apply for a court order to wind up a company, in the manner contemplated in section 81(1)(f); and
d) consult with the Minister in respect of additions, deletions or amendments to the Takeover Regulations.

 

2) The Panel may—
a) consult with any person at the request of any interested party with a view to advising on the application of a provision of Parts B and C of Chapter 5, or the Takeover Regulations;
b) issue, amend or withdraw information on current policy in regard to proposed affected transactions contemplated in Parts B and C of Chapter 5, to serve as guidelines for the benefit of persons concerned in such proposed transactions;
c) receive and deal with representations relating to any matter with which it may deal in terms of this Act; and
d) perform any other function assigned to it by legislation.

 

3) In exercising its powers and performing its functions the Panel must not express any view or opinion on the commercial advantages or disadvantages of any transaction or proposed transaction.