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Cross-Appointments to the NZ and Australian Takeovers Panels

Cross-Appointments to the NZ and Australian Takeovers Panels

Joint statement by Minister Foss and Australian Finance Minister Mathias Cormann

We are pleased to announce the cross-appointments of Mr David Oliver Jones MNZM to the Australian Takeovers Panel and Mr Richard Hunt to the New Zealand Takeovers Panel.

Mr Jones is currently the Chair of the New Zealand Takeovers Panel and will now also be a member of the Australian Takeovers Panel. Mr Hunt will join as a member of the New Zealand Takeovers Panel and continue to serve as a member of the Australian Takeovers Panel.

The purpose of these Panels are to provide a mechanism for peer review and enforcement of takeovers activity, with the aim of being more efficient, less formal and more expeditious than the courts.

These cross-appointment arrangements will continue to enhance trans-Tasman co-operation, assist in the harmonisation of regulatory frameworks and facilitate the strengthening of business relationships in both countries.

Mr Jones is a partner with Jones Young Lawyers in New Zealand. He has recognised expertise in mergers and acquisitions and corporate law and has been Chairperson of the New Zealand Panel since 2007. Mr Jones was appointed to the New Zealand Order of Merit as a Member for his services to business in 2012.

Mr Hunt is a Principal of Fort Street Advisers. Prior to establishing Fort Street Advisers, he worked for UBS Australia for 16 years holding a number of senior roles including co-head of Investment Banking Australasia, Head of Real Estate Australasia and was a member of the UBS Global Investment Bank Board and Talent Development Board. With 20 years of investment banking experience, Mr Hunt is a market leader in mergers and acquisitions, equity capital market and debt capital market transactions.

Mr Jones has been appointed the Australian Takeovers Panel until 30 September 2015 when his present term as Chairperson of the New Zealand Panel expires.

Likewise, Mr Hunt has been appointed to the New Zealand Takeovers Panel until 7 March 2015 when his present term on the Australian Panel expires.

The Australian Panel now has 37 members (including the President), all of whom are appointed on a part-time basis. The New Zealand Panel has 11 members (including the Chairperson and Deputy Chairperson), all of whom are appointed on a part-time basis.

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