Ann: TOV: CD2 Panel Receives Application, page-4

In my non-lawyer reading, the Section 602 (a) and (b) of Corporations Act issue is mostly about takeovers/mergers taking place in an informed market with holders given accurate, sufficient and clear info to assess the merits of the proposal.
http://www5.austlii.edu.au/au/legis/cth/consol_act/ca2001172/s602.html

<<
(a) the acquisition of control over: the voting shares in a listed company
takes place in an efficient, competitive and informed market;

(b) the holders of the shares or interests...
(ii) have a reasonable time to consider the proposal;
(iii) are given enough information to enable them to assess the merits of the proposal
>>

Section 601 FC is about the duties of Responsible Entities (E&P in this case):
http://www5.austlii.edu.au/au/legis/cth/consol_act/ca2001172/s601fc.html

I've highlighted below the major areas of concern in my opinion:

<<

(1) In exercising its powers and carrying out its duties, the responsible entity of a registered scheme must:

(a) act honestly; and

(b) exercise the degree of care and diligence that a reasonable person would exercise if they were in the responsible entity's position; and

(c) act in the best interests of the members and, if there is a conflict between the members' interests and its own interests, give priority to the members' interests; and

(d) treat the members who hold interests of the same class equally and members who hold interests of different classes fairly; and

(e) not make use of information acquired through being the responsible entity in order to:

(i) gain an improper advantage for itself or another person; or

(ii) cause detriment to the members of the scheme; and

(f) ensure that the scheme's constitution meets the requirements of sections 601GA and 601GB; and

(g) ensure that the scheme's compliance plan meets the requirements of section 601HA; and

(h) comply with the scheme's compliance plan; and

(i) ensure that scheme property is:

(i) clearly identified as scheme property; and

(ii) held separately from property of the responsible entity and property of any other scheme; and

(j) ensure that the scheme property is valued at regular intervals appropriate to the nature of the property; and

(k) ensure that all payments out of the scheme property are made in accordance with the scheme's constitution and this Act; and

(m) carry out or comply with any other duty, not inconsistent with this Act, that is conferred on the responsible entity by the scheme's constitution.
>>