Richard John Connellan

Takeover Regulations Panel is a juristic person established in terms of section 196 of the Companies Act No 71 of 2008. The company is based in Johannesburg, South Africa and functions as an organ of state within the public administration, but as an institution outside the public service. The panel is responsible for evaluating all merger and takeover documents submitted in compliance with the act. Its functions include regulating any affected transaction or offer in accordance with part B, part C, and the takeover provisions, but without regard to the commercial advantages or disadvantages of any transaction or proposed transaction, in order to ensure the integrity of the marketplace and fairness to the holders of the securities of regulated companies. The panel comprises the commissioner, or a person designated by the commissioner, and the commissioner of the competition commission established by section 19 of the competition act, or a person designated by that commissioner.