Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A Court hearing proceedings in relation to a decision of the Takeovers Panel made on an application under section 657C may refer the decision to the Takeovers Panel for review.
Note: Regulations made under the ASIC Act deal with the constitution of the Takeovers Panel for the purposes of conducting a review under this section and the procedures to be followed in conducting the review.
(2) After conducting a review under this section, the Takeovers 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 Takeovers 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.