Section 657EB — Corporations Act 2001: References by Courts

(1) A Court hearing proceedings in relation to a decision of the Takeovers Panel made on an application under section 657C may refer the decision to the Takeovers Panel for review. Note: Regulations made under the ASIC Act deal with the constitution of the Takeovers Panel for the purposes of conducting a review under this section and the procedures to be followed in conducting the review. (2) After conducting a review under this section, the Takeovers Panel may: (a) vary the decision reviewed; or (b) set aside the decision reviewed; or (c) set aside the decision reviewed and substitute a new decision. In conducting the review, the Takeovers Panel has the same powers to make a declaration under section 657A, or an order under section 657D or 657E, as it has when it is considering an application under section 657C.