Companies Act, 2008 (Act No. 71 of 2008)Chapter 8 : Regulatory Agencies and Administration of ActPart C : Takeover Regulation Panel196. 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 |
| (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. |