Gees! talk about flogging a dead horse
ASIC makes corporate reform proposals to Treasury
By Andrew Fraser
ASIC chairman Greg Medcraft says it is now up to federal Treasury to recommend if there are to be any changes to the takeover laws, after confirming the regulator has lodged three proposals for corporate reform, including one on the "creep" provisions.
While most public attention has been focused on his proposal to limit creep provisions so that company takeovers by stealth are made more difficult, Mr Medcraft said ASIC had also made recommendations to Treasury concerning the level of disclosure of holdings and the role of schemes of arrangement in takeovers.