The repeal of the NGF claims provisions noted in items 2, 3 and 4 under (a) above do not apply to claims under Regulations 7.5.20, 7.5.21, 7.5.22, 7.5.23, 7.5.33, 7.5.40 or 7.5.41 that a claimant was entitled to make before 31 March 2005 (and which was not withdrawn or finally determined before that date) and which is served on Securities Exchanges Guarantee Corporation (SEGC) before 30 September 2005 (transitional claims). In other words, transitional claims can still be made on SEGC in certain circumstances, but only for a limited time. 3.2 Miscellaneous amendments to the ASIC settlement rules A number of amendments were made to the ASTC Settlement Rules on 4 April 2005. The amendments are mainly administrative, consequential and/or miscellaneous in nature. 3.3 Miscellaneous amendments to the ACH clearing A number of amendments were made to the ACH Clearing Rules on 12 April 2005. The amendments are mainly administrative, consequential and/or miscellaneous in nature. 4. Recent Takeovers Panel Developments 4.1 National Foods Limited 01: Panel concludes proceedings On 15 April 2005 the Takeovers Panel announced that it has concluded its proceedings in relation to the application by San Miguel Foods Australia Holdings Pty Ltd (San Miguel) for a declaration of unacceptable circumstances made on 7 March 2005. In light of: the undertakings received from Fonterra Foods Pty Ltd (Fonterra Foods) and supplementary disclosure by Fonterra Foods in its fifth supplementary bidder's statement on 4 April 2005; and the announcement by San Miguel on 6 April 2005 of its increased offer for shares in National Foods, and Fonterra Foods' subsequent announcement on 11 April 2005 that it would close its bid for National Foods and accept San Miguel's offer, the Panel has decided to conclude the proceedings and not to make any declaration of unacceptable circumstances in relation to the proceedings.
The repeal of the NGF claims provisions noted in items 2, 3 and 4 under (a) above do not apply to claims under Regulations 7.5.20, 7.5.21, 7.5.22, 7.5.23, 7.5.33, 7.5.40 or 7.5.41 that a claimant was entitled to make before 31 March 2005 (and which was not withdrawn or finally determined before that date) and which is served on Securities Exchanges Guarantee Corporation (SEGC) before 30 September 2005 (transitional claims). In other words, transitional claims can still be made on SEGC in certain circumstances, but only for a limited time. 3.2 Miscellaneous amendments to the ASIC settlement rules A number of amendments were made to the ASTC Settlement Rules on 4 April 2005. The amendments are mainly administrative, consequential and/or miscellaneous in nature. 3.3 Miscellaneous amendments to the ACH clearing A number of amendments were made to the ACH Clearing Rules on 12 April 2005. The amendments are mainly administrative, consequential and/or miscellaneous in nature. 4. Recent Takeovers Panel Developments 4.1 National Foods Limited 01: Panel concludes proceedings On 15 April 2005 the Takeovers Panel announced that it has concluded its proceedings in relation to the application by San Miguel Foods Australia Holdings Pty Ltd (San Miguel) for a declaration of unacceptable circumstances made on 7 March 2005. In light of: the undertakings received from Fonterra Foods Pty Ltd (Fonterra Foods) and supplementary disclosure by Fonterra Foods in its fifth supplementary bidder's statement on 4 April 2005; and the announcement by San Miguel on 6 April 2005 of its increased offer for shares in National Foods, and Fonterra Foods' subsequent announcement on 11 April 2005 that it would close its bid for National Foods and accept San Miguel's offer, the Panel has decided to conclude the proceedings and not to make any declaration of unacceptable circumstances in relation to the proceedings.
CORPORATE-LAW-ELECTRONIC-BULLETIN-April-2005.docx