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Tuesday, 17 February 1987
Page: 91

(Question No. 4912)

Mr Jacobi asked the Attorney-General, upon notice, on 18 November 1986:

Further to his answer to Question No. 3797 (Hansard, 16 September 1986, page 683), is he able to say what decisions were made by the Ministerial Council at its September meeting concerning the question of appeal rights and other issues related to the regulation of takeovers.

Mr Lionel Bowen —The answer to the honourable member's question is as follows:

At its September 1986 meeting, the Ministerial Council received a paper prepared by Victoria on the role of the Courts and the discretions of the NCSC in takeovers. This paper was subsequently made available to the public as a Victorian discussion paper by the Victorian Attorney-General the Hon. J. H. Kennan, MLC. The Ministerial Council decided to defer consideration of the paper to the February 1987 meeting of the Council.

The Ministerial Council also considered reports by the National Companies and Securities Commission on (a) The Cross Investments between the Broken Hill Proprietary Company Limited and Elders IXL Limited; and (b) Defensive Schemes and Duties of Directors. Both reports have subsequently been made publicly available.