A342
Ord. No. 63/88
Time of
notification and particulars to be contained
SECURITIES (DISCLOSURE OF INTERESTS)
7. (1) Where notification is required by section 3 with respect to a person's interest (if any) in shares comprised in relevant share capital of a listed company, the duty to make the notification must (except where sec- 1985 c. 6, s. 202 tion 6(2) applies) be performed within the period of 5 days next following the day on which that duty arises; and the notification must be in writing to the company.
1967 c. 81, s. 33
(2) Upon the commencement of this Ordinance, every person who at that time is interested in shares comprised in relevant share capital of a listed company of an aggregate nominal value equal to or more than the notifiable percentage of the nominal value of that share capital shall be under a duty to notify the listed company of the subsistence of his interests at that time and the number of shares comprised in that share capital (specifying it) in which each interest subsists at that time.
(3) In the case of a duty imposed by subsection (2)—
(a) if, at the time when the duty arises, the person upon whom the
duty is imposed—
(i) does not know of the subsistence of his interests; or
(ii) knows only of the subsistence of interests in shares comprised in relevant share capital of an aggregate nominal value less than the notifiable percentage of the nominal value of that share capital, the duty must be performed-
(A) upon there coming to his knowledge the matter of the subsistence of interests in shares so comprised of an aggregate nominal value not less than the notifiable percentage of the nominal value of that share capital, so far as regards those interests, within the period of 5 days next following the day on which that matter comes to his knowledge; and
(B) so far as regards an interest whose subsistence comes to his knowledge after that matter comes to his knowledge, be performed within the period of 5 days next following the day on which the subsistence of the interest comes to his knowledge;
(b) if, at the time when the duty arises, the person upon whom the duty is imposed knows of the subsistence of interests in shares comprised in relevant share capital of an aggregate nominal value of not less than the notifiable percentage of the nominal value of that share capital, the duty must be performed-
(i) so far as regards those interests, within the period of 5 days next following the day on which the duty arises; and
(ii) so far as regards an interest whose subsistence comes to his knowledge after the duty arises, within the period of 5 days next following the day on which the subsistence of the interest comes to his knowledge.
(4) In the event of—
(a) a company becoming a listed company; or
(b) a listed company's share capital of any class becoming relevant
share capital,
No comments yet.
Private notes are available after approval.