2008-10 CAMAC DISCUSSION PAPER - MEMBERS SCHEMES OF ARRANGEMENT

Date: 1/10/2008

Title: 2008-10 CAMAC discussion paper - members' schemes of arrangement

Type: Policy & Advocacy: Submission

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Abstract: In this submission to CAMAC on the discussion paper on members schemes of arrangement we highlight the issues which are of particular significance to directors. These include:
Section 3.3 - liability and defences for disclosure breaches. Information supplied in an exemplary statement under a scheme should be subject to a stand alone liability and defence regime.
Section 6.2 - managed investment schemes. The scheme provisions should extend to managed investment schemes but are of greater significance to unlisted MIS than to listed MIS
Section 6.4 - schemes opposed by the company. The scheme provisions should certainly not be adapted to facilitate their use where a target board opposes the proposal

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SUBM2008-10 CAMAC discussion paper - members schemes of arrangement