The Disclosure of Interests in Shares (Amendment) (No. 2) Regulations 1993

• Citation: S.I. 1993/2689
• Sections: 4

Section 1 Citation and commencement

These Regulations may be cited as the Disclosure of Interests in Shares (Amendment) (No.2) Regulations 1993 and shall come into force on the day after the day on which they are made.

Section 2 Amendments of Part VI of the Companies Act 1985

Part VI of the Companies Act 1985 shall be amended in accordance with Regulation 3 below.

Section 3 Amendments of Part VI of the Companies Act 1985

In section 209, in subsection (2),

(a) in subparagraph (ii) of paragraph (a), after the word “securities”in both places where it occurs there shall be inserted “or derivatives” and after the words “on a relevant stock exchange”there shall be inserted the words “or on a relevant investment exchange”, and

(b) in subparagraph (iii) of that paragraph at the beginning, there shall be inserted the words “a relevant stock exchange,”.

Section 4 Transitional provisions

(1) In this Regulation “commencement” means the commencement of these Regulations.

(2) Where a person—

(a) had a notifiable interest immediately before commencement, but does not have such an interest immediately after commencement, or

(b) had a notifiable interest immediately before commencement and has such an interest immediately after commencement but the percentage levels of his interest immediately before and immediately after commencement are not the same,

then he comes under an obligation to notify the company with respect to the interest which he has or had in its shares; and the provisions of Part VI of the Companies Act 1985 shall apply as if that obligation arose under section 198 of that Act.