Introduction
  Conduct of the inquiry
  Acknowledgments
Background
  Introduction
  The mechanics of private equity
  Benefits of private equity

International trends
Drivers of the rise in leveraged buyouts
Trends in Australia
Outlook

Equity markets
Debt markets
Other effects
Conclusion

Introduction
Taxation implications of private equity takeovers
Offsetting factors
General taxation law compliance issues
Overall assessment of the revenue impact

The Reserve Bank of Australia's view
The financial regulators' view
The adequacy of existing regulations for unlisted companies
The Takeovers Panel's Guidance Note
The power vested in shareholders
Concerns about the existing regulatory framework
The difficulty defining industries of economic significance
Benefits to the Australian economy
Conclusion