Takeovers appointment reflects aims of CER

By Phil Boeyen, ShareChat Business News Editor

Thursday 11th October 2001

An Australian lawyer has been appointed to the New Zealand Takeovers Panel as part of closer business co-ordination between the two countries.

Commerce Minister Paul Swain says Brisbane commercial lawyer and consultant Denis Byrne has been appointed as an Australian member of the Takeovers Panel until January 2003.

Mr Swain says a reciprocal arrangement is being entered into for a member of the New Zealand Panel to sit on the Australian Takeovers Panel, with an announcement from the Australian Minister due shortly.

"Both governments see these trans-Tasman appointments as cementing the relationship of closer co-ordination in the area of takeovers law.

"The appointment of Mr Byrne reflects the increasing integration of the New Zealand and the Australian business sectors in the broader context of CER."

The Minister says greater attention needs to be given to ensuring domestic laws enhance trans-Tasman business initiatives, and that the law works effectively where business activities span both jurisdictions.

"A close relationship between the regulators in both countries is essential if these goals are to be achieved.

Denis Byrne has been a member of the Australian Takeovers Panel since 1997 and his legal experience includes public company takeovers, corporate restructures and major asset acquisitions and sales.

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