- The Panel has powers to issue compliance notices where a party entered into an affected transaction or offer without complying with the requirements of the Act.
- Failure to comply with a compliance notice issued may result in a regulated company being fined up to 10% of annual turnover by a Court on application by the Panel and may constitute a criminal offence. On prosecution and conviction a Court may order imprisonment for a period of up to 12 months.
- Other offences include: providing false information, improperly influencing the Panel or anticipating the findings of the Panel.
- Any person with an interest in an affected transactions or offer may lodge a complaint with the Panel against the transaction whereupon the Panel in its discretion may investigate the complaint,and issue a compliance notice where necessary.
- The Panel may also issue a compliance certificate if it is satisfied that the transaction has met the requirements set in the Act.
Takeover Regulation Panel > ENFORCEMENT AND COMPLAINTS