Source: http://www.legislation.gov.uk/ukpga/2006/46/schedules/enacted?timeline=true
Timestamp: 2014-07-31 18:35:50
Document Index: 197087825

Matched Legal Cases: ['art 1', 'art 2', 'art 14', 'art 2', 'art.31', 'art 8', 'art.38']

Skip to main contentSkip to navigationlegislation.gov.ukThe National ArchivesHelpSite MapAccessibilityContact UsCymraegHomeAbout UsBrowse LegislationNew LegislationChanges To LegislationSearch LegislationSearch LegislationTitle: (or keywords in the title)Year:Number:Type:All Legislation (excluding draft)All Primary Legislation UK Public General Acts UK Local Acts Acts of the Scottish Parliament Acts of the National Assembly for Wales Measures of the National Assembly for Wales Church Measures Acts of the Northern Ireland Assembly Acts of the Old Scottish Parliament Acts of the English Parliament Acts of the Old Irish Parliament Acts of the Parliament of Great Britain Northern Ireland Orders in Council Measures of the Northern Ireland Assembly Acts of the Northern Ireland ParliamentAll Secondary Legislation UK Statutory Instruments Wales Statutory Instruments Scottish Statutory Instruments Northern Ireland Statutory Rules Church Instruments UK Ministerial Orders UK Statutory Rules and OrdersAll Draft Legislation UK Draft Statutory Instruments Scottish Draft Statutory Instruments Northern Ireland Draft Statutory RulesAll Impact Assessments UK Impact AssessmentsSearchAdvanced SearchCompanies Act 2006You are here:2006 c. 46Schedules onlyTable of ContentsContentExplanatory NotesMore ResourcesPrevious: PartNextPlain ViewPrint OptionsWhat VersionLatest available (Revised)Original (As enacted)Advanced FeaturesShow Explanatory Notes for Sections Opening OptionsOpen whole ActOpen Act without schedulesOpen Schedules onlyMore ResourcesOriginal Print PDFOriginal Print PDF Volume 1Original Print PDF Volume 2Original Print PDF Volume 3Correction Slip - 15/10/2010View moreStatus:This is the original version (as it was originally enacted).SCHEDULESSections 254 and 255SCHEDULE 1Connected persons: references to an interest in shares or debenturesIntroduction1(1)The provisions of this Schedule have effect for the interpretation of references in sections 254 and 255 (directors connected with or controlling a body corporate) to an interest in shares or debentures.
(2)The provisions are expressed in relation to shares but apply to debentures as they apply to shares.
General provisions2(1)A reference to an interest in shares includes any interest of any kind whatsoever in shares.
Rights to acquire shares3(1)A person is taken to have an interest in shares if he enters into a contract to acquire them.
(2)A person is taken to have an interest in shares if—
(b)he has a right to acquire an interest in shares or is under an obligation to take an interest in shares,
whether the right or obligation is conditional or absolute.
(3)Rights or obligations to subscribe for shares are not to be taken for the purposes of sub-paragraph (2) to be rights to acquire or obligations to take an interest in shares.
(4)A person ceases to have an interest in shares by virtue of this paragraph—
(a)on the shares being delivered to another person at his order—
(i)in fulfilment of a contract for their acquisition by him, or
(ii)in satisfaction of a right of his to call for their delivery;
(b)on a failure to deliver the shares in accordance with the terms of such a contract or on which such a right falls to be satisfied;
(c)on the lapse of his right to call for the delivery of shares.
Right to exercise or control exercise of rights4(1)A person is taken to have an interest in shares if, not being the registered holder, he is entitled—
(a)to exercise any right conferred by the holding of the shares, or
(b)to control the exercise of any such right.
(2)For this purpose a person is taken to be entitled to exercise or control the exercise of a right conferred by the holding of shares if he—
(b)is under an obligation (whether or not so subject) the fulfilment of which would make him so entitled.
(3)A person is not by virtue of this paragraph taken to be interested in shares by reason only that—
(a)he has been appointed a proxy to exercise any of the rights attached to the shares, or
(b)he has been appointed by a body corporate to act as its representative at any meeting of a company or of any class of its members.
Bodies corporate5(1)A person is taken to be interested in shares if a body corporate is interested in them and—
(a)the body corporate or its directors are accustomed to act in accordance with his directions or instructions, or
(b)he is entitled to exercise or control the exercise of more than one-half of the voting power at general meetings of the body corporate.
(2)For the purposes of sub-paragraph (1)(b) where—
(a)a person is entitled to exercise or control the exercise of more than one-half of the voting power at general meetings of a body corporate, and
(b)that body corporate is entitled to exercise or control the exercise of any of the voting power at general meetings of another body corporate,
the voting power mentioned in paragraph (b) above is taken to be exercisable by that person.
Trusts6(1)Where an interest in shares is comprised in property held on trust, every beneficiary of the trust is taken to have an interest in shares, subject as follows.
(2)So long as a person is entitled to receive, during the lifetime of himself or another, income from trust property comprising shares, an interest in the shares in reversion or remainder or (as regards Scotland) in fee shall be disregarded.
(3)A person is treated as not interested in shares if and so long as he holds them—
(a)under the law in force in any part of the United Kingdom, as a bare trustee or as a custodian trustee, or
(b)under the law in force in Scotland, as a simple trustee.
(4)There shall be disregarded any interest of a person subsisting by virtue of—
(a)an authorised unit trust scheme (within the meaning of section 237 of the Financial Services and Markets Act 2000 (c. 8));
(b)a scheme made under section 22 or 22A of the Charities Act 1960 (c. 58), section 25 of the Charities Act (Northern Ireland) 1964 (c. 33 (N.I.)) or section 24 or 25 of the Charities Act 1993 (c. 10), section 11 of the Trustee Investments Act 1961 (c. 62) or section 42 of the Administration of Justice Act 1982 (c. 53); or
(c)the scheme set out in the Schedule to the Church Funds Investment Measure 1958 (1958 No. 1).
(5)There shall be disregarded any interest—
(a)of the Church of Scotland General Trustees or of the Church of Scotland Trust in shares held by them;
(b)of any other person in shares held by those Trustees or that Trust otherwise than as simple trustees.
“The Church of Scotland General Trustees” are the body incorporated by the order confirmed by the Church of Scotland (General Trustees) Order Confirmation Act 1921 (1921 c. xxv), and “the Church of Scotland Trust” is the body incorporated by the order confirmed by the Church of Scotland Trust Order Confirmation Act 1932 (1932 c. xxi).
Section 948SCHEDULE 2Specified persons, descriptions of disclosures etc for the purposes of section 948Part 1Specified persons1The Secretary of State.2The Department of Enterprise, Trade and Investment for Northern Ireland.3The Treasury.4The Bank of England.5The Financial Services Authority.6The Commissioners for Her Majesty’s Revenue and Customs.7The Lord Advocate.8The Director of Public Prosecutions.9The Director of Public Prosecutions for Northern Ireland.10A constable.11A procurator fiscal.12The Scottish Ministers.Part 2Specified descriptions of disclosures13A disclosure for the purpose of enabling or assisting a person authorised under section 457 of this Act (persons authorised to apply to court) to exercise his functions.Until the coming into force of section 457, the reference to that section is to be read as a reference to section 245C of the Companies Act 1985 (c. 6).
14A disclosure for the purpose of enabling or assisting an inspector appointed under Part 14 of the Companies Act 1985 (investigation of companies and their affairs, etc) to exercise his functions.15A disclosure for the purpose of enabling or assisting a person authorised under section 447 of the Companies Act 1985 (power to require production of documents) or section 84 of the Companies Act 1989 (c. 40) (exercise of powers by officer etc) to exercise his functions.16A disclosure for the purpose of enabling or assisting a person appointed under section 167 of the Financial Services and Markets Act 2000 (c. 8) (general investigations) to conduct an investigation to exercise his functions.17A disclosure for the purpose of enabling or assisting a person appointed under section 168 of the Financial Services and Markets Act 2000 (investigations in particular cases) to conduct an investigation to exercise his functions.18A disclosure for the purpose of enabling or assisting a person appointed under section 169(1)(b) of the Financial Services and Markets Act 2000 (investigation in support of overseas regulator) to conduct an investigation to exercise his functions.19A disclosure for the purpose of enabling or assisting the body corporate responsible for administering the scheme referred to in section 225 of the Financial Services and Markets Act 2000 (the ombudsman scheme) to exercise its functions.20A disclosure for the purpose of enabling or assisting a person appointed under paragraph 4 (the panel of ombudsmen) or 5 (the Chief Ombudsman) of Schedule 17 to the Financial Services and Markets Act 2000 to exercise his functions.21A disclosure for the purpose of enabling or assisting a person appointed under regulations made under section 262(1) and (2)(k) of the Financial Services and Markets Act 2000 (investigations into open-ended investment companies) to conduct an investigation to exercise his functions.22A disclosure for the purpose of enabling or assisting a person appointed under section 284 of the Financial Services and Markets Act 2000 (investigations into affairs of certain collective investment schemes) to conduct an investigation to exercise his functions.23A disclosure for the purpose of enabling or assisting the investigator appointed under paragraph 7 of Schedule 1 to the Financial Services and Markets Act 2000 (arrangements for investigation of complaints) to exercise his functions.24A disclosure for the purpose of enabling or assisting a person appointed by the Treasury to hold an inquiry into matters relating to financial services (including an inquiry under section 15 of the Financial Services and Markets Act 2000 (c. 8)) to exercise his functions.25A disclosure for the purpose of enabling or assisting the Secretary of State or the Treasury to exercise any of their functions under any of the following—(a)the Companies Acts;
26A disclosure for the purpose of enabling or assisting the Scottish Ministers to exercise their functions under the enactments relating to insolvency.27A disclosure for the purpose of enabling or assisting the Department of Enterprise, Trade and Investment for Northern Ireland to exercise any powers conferred on it by the enactments relating to companies or insolvency.28A disclosure for the purpose of enabling or assisting a person appointed or authorised by the Department of Enterprise, Trade and Investment for Northern Ireland under the enactments relating to companies or insolvency to exercise his functions.29A disclosure for the purpose of enabling or assisting the Pensions Regulator to exercise the functions conferred on it by or by virtue of any of the following—(a)the Pension Schemes Act 1993 (c. 48);
30A disclosure for the purpose of enabling or assisting the Board of the Pension Protection Fund to exercise the functions conferred on it by or by virtue of Part 2 of the Pensions Act 2004 or any enactment in force in Northern Ireland corresponding to that Part.31A disclosure for the purpose of enabling or assisting—(a)the Bank of England,
32A disclosure for the purpose of enabling or assisting the Commissioners for Her Majesty’s Revenue and Customs to exercise their functions.33A disclosure for the purpose of enabling or assisting organs of the Society of Lloyd’s (being organs constituted by or under the Lloyd’s Act 1982 (c. xiv)) to exercise their functions under or by virtue of the Lloyd’s Acts 1871 to 1982.34A disclosure for the purpose of enabling or assisting the Office of Fair Trading to exercise its functions under any of the following—(a)the Fair Trading Act 1973 (c. 41);
35A disclosure for the purpose of enabling or assisting the Competition Commission to exercise its functions under any of the following—(a)the Fair Trading Act 1973;
36A disclosure with a view to the institution of, or otherwise for the purposes of, proceedings before the Competition Appeal Tribunal.37A disclosure for the purpose of enabling or assisting an enforcer under Part 8 of the Enterprise Act 2002 (enforcement of consumer legislation) to exercise its functions under that Part.38A disclosure for the purpose of enabling or assisting the Charity Commission to exercise its functions.39A disclosure for the purpose of enabling or assisting the Attorney General to exercise his functions in connection with charities.40A disclosure for the purpose of enabling or assisting the National Lottery Commission to exercise its functions under sections 5 to 10 (licensing) and 15 (power of Secretary of State to require information) of the National Lottery etc. Act