The Takeover Regulation Panel (the Panel) is established in terms of section 196 of the Companies Act No 71 of 2008 (the Act) as a juristic person. The Panel reports to the Minister of Trade and Industry (the dti). It function as an organ of state within the public administration, but as an institution outside the public service.
The Panel has jurisdiction throughout the Republic of South Africa; is independent and subject to the Constitution and the law and any policy statement, directive or request issued by the Minister of the dti. The Panel must be impartial and perform its functions without fear, favour or prejudice; and must exercise the functions assigned to it in terms of the Act or any other law, or by the Minister in the outmost cost-efficient and effective manner; and in accordance with the values and principles mentioned in section 195 of the Constitution.