THE CORPORATIONS LAW

CHAPTER 6 - TAKEOVERS

PART 6.10 - REVIEW AND INTERVENTION

Division 2 - The Corporations and Securities Panel

Subdivision B - Unacceptable circumstances

SECTION 657EB   REFERENCES BY COURTS  

657EB(1)  [Reference to Panel]  

A Court hearing proceedings in relation to a decision of the Panel made on an application under section 657C may refer the decision to the Panel for review.

Note:

Regulations made under the Australian Securities and Investments Commission Act 1989 deal with the constitution of the Panel for the purposes of conducting a review under this section and the procedures to be followed in conducting the review.

657EB(2)  [Panel's powers]  

After conducting a review under this section, the Panel may:

(a)  vary the decision reviewed; or

(b)  set aside the decision reviewed; or

(c)  set aside the decision reviewed and substitute a new decision.

In conducting the review, the Panel has the same powers to make a declaration under section 657A, or an order under section 657D or 657E, as it has when it is considering an application under section 657C.