Functions of the Objections Committee
If BaFin issues an order in connection with a takeover, for example an official order prohibiting an offer, the parties involved in said takeover are entitled to lodge an objection with the Objections Committee.
The Objections Committee consists of six members. The President of BaFin or a permanent civil servant appointed by the President acts as chairman of the Committee. Two civil servants appointed by the President of BaFin carry out duties as associate members. In addition, the President of BaFin appoints three honorary associate members.
The Objections Committee must decide on any objection lodged within a period of two weeks. In the event of a voting tie, the chairman of the Objections Committee has the casting vote.