Undertaking date

Undertaking type

s.87B undertaking

Reference number



s. 50

Company or individual details

  • Name

    Saul Richard Cannon (this entry is an individual, not a company)


On 18 April 2007 the ACCC accepted the undertaking of Mr Saul Richard Cannon, a director of Asciano Limited and/or its related bodies corporate.

Under the undertaking Mr Saul Richard Cannon agrees to remain an 'Independent Asciano Person'. A person is not an Independent Asciano Person if, amongst other things, he or she, or his or her relative, has an interest in Toll Holdings Limited (including shares), is employed by Toll, or has, in the past five years, been a director of or advisor to Toll.

The undertaking is associated with the fifth variation, accepted by the ACCC on 18 April 2007, to the undertaking given by Toll to the ACCC on 11 March 2006. The fifth variation relates to Toll's planned restructure of its group businesses by way of scheme of arrangement to create a new listed entity and trust.

The ACCC's decision to consent to the fifth variation is given effect through the following documents:

  • a variation to Toll's undertakings
  • a new undertaking from Asciano, and
  • new undertakings from the directors of Toll and Asciano.

A copy of those documents can be viewed on the ACCC's website.