Securities & Futures Commission of Hong Kong

Takeovers Panel & related committees

Takeovers and Mergers Panel

The functions of the Takeovers and Mergers Panel (Takeovers Panel) are to:

  • hear disciplinary matters in the first instance and review rulings by the Takeovers Executive at the request of any party dissatisfied with such a ruling;
  • consider novel, important or difficult cases referred to it by the Takeovers Executive; and
  • review, upon the SFC's request, the provisions of the Codes on Takeovers and Mergers and Share Buy-backs and the Rules of Procedure for hearings under the Codes, and recommend relevant amendments as appropriate.

Please click here for the list of members of the Takeovers Panel (from 1 April 2014 to 31 March 2016 unless otherwise stated). 

Takeovers Appeal Committee

The Takeovers Appeal Committee reviews disciplinary rulings of the Takeovers and Mergers Panel at the request of an aggrieved party for the sole purpose of determining whether any sanction imposed by the panel is unfair or excessive. The Chairman is selected from the Disciplinary Chair Committee on a case-by-case basis.

Please click here for the list of members of the Takeovers Appeal Committee (from 1 April 2014 to 31 March 2016 unless otherwise stated).

Nominations Committee

The Nominations Committee nominates members of the Takeovers and Mergers Panel, the Takeovers Appeal Committee and the Disciplinary Chair Committee.

Please click here for the list of members of the Nominations Committee (from 1 April 2014 to 31 March 2016 unless otherwise stated).

Disciplinary Chair Committee

Members of the Disciplinary Chair Committee are nominated by the Nominations Committee on the basis that they are duly experienced and legally qualified persons. Their role is to act as Chairman of the Takeovers and Mergers Panel in disciplinary proceedings under the Codes or of the Takeovers Appeal Committee on a case-by-case basis.

Please click here for the list of members of the Takeovers Appeal Committee (from 1 April 2014 to 31 March 2016 unless otherwise stated).

Learn more about the conduct of the Takeovers and Mergers Panel and the other committees through: 

Decisions and statements

Rules of procedure

Rules of procedure for disciplinary hearings
Rules of procedure for non-disciplinary hearings
Rules of procedure for Takeovers Appeal Committee hearings

Terms of reference

Terms of reference for Takeovers and Mergers Panel 
Terms of reference for Takeovers Appeal Committee 
Terms of reference for Nominations Committee
Terms of reference for Disciplinary Chair Committee 

Guidelines 

Guidelines on Conflict of Interest of Members of the Takeovers and Mergers Panel and the Takeovers Appeal Committee

For queries, please contact the committees through the Secretary to the Takeovers Panel.   

Address:
Secretary to the Takeovers and Mergers Panel
Securities and Futures Commission
35/F, Cheung Kong Center
2 Queen's Road Central
Hong Kong

Tel: (852) 2231 1210
Fax: (852) 2810 5385
Email: cfmailbox@sfc.hk

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