Irish Takeover Panel Act, 1997

Hearings by Panel.

11.—(1) The Panel may for the purposes of exercising the powers conferred on it by section 9 or 10 conduct a hearing, in such manner as it may determine, in relation to the matter concerned.

(2) The whole or any part of a hearing referred to in subsection (1) may be conducted otherwise than in public if the Panel considers, having regard to the interests of any party concerned or of any company, a transaction or proposed transaction affecting the securities of which is the subject of the hearing, that it is appropriate that the hearing or the part thereof be so conducted.

(3) The Panel shall for the purpose of a hearing referred to in subsection (1) have the powers, rights and privileges vested in the Court or a judge thereof on the hearing of an action in respect of—

(a) the enforcement of the attendance of witnesses and their examination on oath or otherwise, and

(b) the compelling of the production of documents,

and a summons signed by a director of the Panel may be substituted for and shall be equivalent to any formal process capable of being issued in an action for enforcing the attendance of witnesses and compelling the production of documents.

(4) A witness before the Panel shall be entitled to the same immunities and privileges as if he or she were a witness before the Court.

(5) Without prejudice to subsections (6) and (7), if a person—

(a) on being duly summoned as a witness before the Panel, without just cause or excuse disobeys the summons, or

(b) being in attendance as a witness before the Panel refuses to take an oath or to make an affirmation when legally required by the Panel to do so, or to produce any documents (which word shall be construed in this subsection and in subsection (3) as including things) in his or her power or control legally required by the Panel to be produced by him or her, or to answer any question to which the Panel may legally require an answer, or

(c) wilfully gives evidence to the Panel which is material to the matter being determined by the Panel and which he or she knows to be false or does not believe to be true, or

(d) by act or omission, obstructs or hinders the Panel in the conduct by it of a hearing referred to in subsection (1),

the person shall be guilty of an offence.

(6) If a person does or, as the case may be, fails to do anything referred to in paragraph (a), (b) or (d) of subsection (5), the Court may, on application being made, in a summary manner, to it by the Panel, by order require the person to refrain from doing or, as the case may be, to do the thing concerned.

(7) An application for an order under subsection (6) shall be by motion, and the Court when considering the motion may make such interim or interlocutory order as it considers appropriate.