The Irish Takeover Panel is the statutory body responsible for monitoring and supervising takeovers and other relevant transactions in relevant companies in Ireland. It was established by the Irish Takeover Panel Act 1997. The Panel is designated as the competent Irish authority for the purpose of the Takeover Directive 2004/25/EC. It is incorporated as a company limited by guarantee. It makes Annual Reports to the Minister for Jobs, Enterprise and Innovation.
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Governance
The Members of the Panel are representative of bodies professionally involved in the securities markets and in the field of takeovers: the Consultative Committee of Accountancy Bodies – Ireland, the Law Society of Ireland, the Irish Association of Investment Managers, Irish Clearing House Limited (nominated by the Irish Banking Federation and the Irish Stock Exchange plc. Each of these bodies appoints a Director to the Board of the Panel, and may also appoint alternate Directors. The Governor of the Central Bank of Ireland appoints the Chairperson and Deputy Chairperson to the Board, currently Denis McDonald S.C. (Chairperson) and Ann Fitzgerald (Deputy Chairperson). No lay members are appointed, or representatives of consumer or other groups. It therefore appears to be part of a system of self-regulation.
List of Chairpersons of the Panel
The Chairperson of the Panel is appointed by the Governor of the Central Bank of Ireland.