Chapter 8: Regulatory Agencies and Administration of Act
Part C: Takeover Regulation Panel
s196: Establishment of Takeover Regulation Panel
- (1) The Takeover Regulation Panel is hereby established as a juristic person, to function as an organ of state within the public administration, but as an institution outside the public service.
- (2) The Panel:
- (a) has jurisdiction throughout the Republic;
- (b) is independent, and subject only to:
- (i) the Constitution and the law; and
- (ii) any policy statement, directive or request issued to it by the Minister in terms of this Act;
- (c) must be impartial and perform its functions without fear, favour, or prejudice; and
- (d) must exercise the functions assigned to it in terms of this Act or any other law, or by the Minister, in:
- (i) the most cost-efficient and effective manner; and
- (ii) in accordance with the values and principles mentioned in section 195 of the Constitution.
- (3) Each organ of state must assist the Panel to maintain its independence and impartiality, and to exercise its authority and perform its functions effectively.
- (4) In carrying out its functions, the Panel may:
- (a) have regard to international developments in the field of company law; or
- (b) consult any person, organisation or institution with regard to any matter.
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