Source: https://perevodzakonov.ru/companies-act-2006/companies-act-2006-explanatory-note/part-22-information-about-interests-in-companys-shares-background
Timestamp: 2019-07-21 09:43:55
Document Index: 96390525

Matched Legal Cases: ['art 22', 'art 6', 'art 43', 'art 22', 'art 21', 'art 23']

Закон Великобритании о компаниях 2006 года»Пояснительная записка к закону о компаниях»Part 22: Information about Interests in Company’s Shares. Background»
1108.The automatic disclosure obligations currently contained in sections 198 to 211 of Part 6 of the 1985 Act will be replaced by regulations under the Financial Services and Markets Act 2000, as amended by Part 43 of this Act, in implementation of the Transparency Obligations Directive. In the regulations, a different concept of «interest in voting rights» will be adopted in order to implement the Transparency Obligations Directive.
1109.This Part re-enacts, with certain modifications, the disclosure obligations pursuant to a notice issued by the company contained in sections 212 to 219 of the 1985 Act. There is no change to the definition of «interest in shares» for this purpose.
1112.This section re-enacts in part the definition in section 198(2) of the 1985 Act of the type of shares concerning which a section 793 notice may be issued, namely shares carrying rights to vote in all circumstances at general meetings. However, shares held by a company «in treasury» following a purchase of its own shares (as an alternative to cancelling such shares on purchase) are now included in the definition.
1142.This section re-enacts the definition of «interest in shares» in section 208 (as applied by section 212(5)) of the 1985 Act for the purposes of Part 22 of this Act. An «interest in shares» is widely defined as an interest of any kind whatsoever in the shares, and includes beneficial ownership as well as direct ownership. The courts have described this wide definition as being designed «to counter the limitless ingenuity of persons who prefer to conceal their interests behind trusts and corporate entities» (re TR Technology Investment Trust plc [1988] BCLC 256 at 261).
1148.This provision re-enacts the provision of section 220(2) of the 1985 Act concerning the calculation of periods in the Part expressed as a number of working days (as defined in section 1173). In contrast to section 220(2), the definition of «working days» excludes bank holidays only in the part of the UK where the company is registered.
««« Part 21: Certification and Transfer of Securities
Part 23: Distributions »»»