§ Investigation by a company of interests in shares
§ 128 After Clause 56, insert the following new clause:
§ ("Power of company to require information with respect to interests in its voting shares.
§ .—(1) Any public company may by notice in writing require any person whom the company knows or has reasonable cause to believe to be or, at any time during the three years immediately preceding the date on which the notice is issued, to have been interested in shares comprised in relevant share capital of that company to confirm that fact or (as the case may be) to indicate whether or not it is the case and, where he holds or has during that time held any interest in shares so comprised, to give such further information as may be required in accordance with subsection (2) below.
§ (2) A notice under subsection (1) above may require the person to whom it is addressed—
- (a) to give particulars of his own past or present interest in shares comprised in relevant share capital of the company (held by him at any time during the three year period mentioned in subsection (1) above);
- (b) where the interest is a present interest and any other interest in the shares subsists or, in any case, where another interest in the shares subsisted during that three year period at any time when his own interest subsisted, to give so far as lies within his knowledge such particulars with respect to that other interest as may be required by the notice;
- (c) where his interest is a past interest, to give so far as lies within his knowledge particulars of the identity of the person who held that interest immediately upon his ceasing to hold it.
§ (3) The particulars referred to in subsection (2)(a) and (b) above include particulars of the identity of persons interested in the shares in question and of whether persons interested in the same shares are or were parties to any agreement to which section (Notification of group interests of persons acting together) of this Act applies or to any agreement or arrangement relating to the exercise of any of the rights conferred by the holding of the shares.
§ (4) A notice under this section shall require any information given in response to the notice to be given in writing within such reasonable time as may be specified in the notice.
§ (5) Sections (Notification of certain family and corporate interests), (Notification of group interests of persons acting together) and (Interests to be notified) of this Act shall apply for the purpose of construing references in this section to persons interested in shares and to interests in shares respectively as they apply in relation to section (Obligation to notify known interests in voting shares in a public company) of this Act (but with the omission of any reference to section (Interests to be disregarded).
§ (6) This section shall apply in relation to a person who has or previously had or is or was entitled to acquire a right to subscribe for shares in a public company which would on issue be comprised in relevant share capital of that company as it applies in relation to a 1022 person who is or was interested in shares so comprised; and references in the preceding provisions of this section to an interest in shares so comprised and to shares so comprised shall be read accordingly in any such case as including references respectively to any such right and to shares which would on issue be so comprised.").
§ Lord Trefgarne
My Lords, Amendment No. 128 is consequential on an earlier amendment. I beg to move that this House doth agree with the Commons in their amendment.
§ Moved, That this House doth agree with the Commons in the said amendment.—(Lord Trefgarne.)
§ On Question, Motion agreed to.