The Public Companies (Disclosure of Interests in Shares) (Investment Management Exclusion) Regulations 1988

• Citation: S.I. 1988/706
• Sections: 3

Section 1

These Regulations may be cited as the Public Companies (Disclosure of Interests in Shares) (Investment Management Exclusion) Regulations 1988 and shall come into force on 29th April 1988.

Section 2

The Public Companies (Disclosure of Interests in Shares) (Investment Management Exclusion) Regulations 1985 are hereby revoked.

Section 3

An interest in the relevant share capital of a public company is a prescribed interest for the purposes of section 209(1)(j) of the Companies Act 1985 if —

(a) the interest is in shares admitted to the Official List of The International Stock Exchange of the United Kingdom and the Republic of Ireland Limited or designated on its Unlisted Securities Market or traded under Rule 535(3) of its Rules;

(b) the person having the interest is —

(i) an authorised person under Chapter III of Part I of the Financial Services Act 1986 ; or

(ii) a person acting on behalf of a person mentioned in (i) above; and

(c) he is taken to have that interest by virtue only of the fact that, not being the registered holder of the shares, he is entitled to dispose of them or to agree to, or to direct, their disposal pursuant to a written agreement to manage investments for another.