11 October 2001 Media Statement

Trans-tasman Appointment to the Takeovers Panel

Commerce Minister Paul Swain today announced the appointment of Denis Byrne as an Australian member of the Takeovers Panel until 30 January 2003.

“A reciprocal arrangement is being entered into for a member of the New Zealand Panel to sit on the Australian Takeovers Panel. An announcement from the Australian Minister is due shortly. Both governments see these Trans-tasman appointments as cementing the relationship of closer co-ordination in the area of takeovers law," Paul Swain said.

“The appointment of Mr Byrne reflects the increasing integration of the New Zealand and the Australian business sectors in the broader context of CER," Paul Swain said.

"Greater attention needs to be given to ensuring domestic laws enhance trans-Tasman business initiatives, and that the law works effectively where business activities span both jurisdictions.

"A close relationship between the regulators in both countries is essential if these goals are to be achieved.

Denis Byrne has been a member of the Australian Takeovers Panel since 1997.

Denis Byrne is a Brisbane-based commercial lawyer and consultant with wide experience in the corporate, infrastructure and resources areas. He practised as a solicitor, in numerous jurisdictions throughout Australia and the region, from 1970 until 1997. His legal practice included public company takeovers, corporate restructures and major asset acquisitions and sales.

Mr Byrne has a keen interest in New Zealand having been involved in extensive dialogue with the New Zealand legal profession on matters of common interest including the development of public policy. In practice he has worked closely with several leading New Zealand law firms and their corporate clients.

ENDS

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