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Companies Act, 2008 (Act No. 71 of 2008)

Chapter 8 : Regulatory Agencies and Administration of Act

Part C : Takeover Regulation Panel

196. 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.