Financial Services and Markets Act 2000

Yn ddilys o 01/10/2009

Rights to acquire sharesU.K.

This adran has no associated Nodiadau Esboniadol

[F19(1) A person who enters into a contract to acquire shares is taken to have an interest in the shares.

(2)A person who—

(a)has a right to call for delivery of shares to the person or to the person's order, or

(b)has a right to acquire an interest in shares or is under an obligation to take an interest in shares,

is taken to have an interest in the shares, whether the right or obligation is conditional or absolute.

(3)Rights or obligations to subscribe for shares are not to be taken for the purposes of sub-paragraph (2) to be rights to acquire or obligations to take an interest in shares.

(4)A person (“A”) ceases to have an interest in shares by virtue of this paragraph—

(a)on the shares being delivered to another person at A's order—

(i)in fulfilment of a contract for their acquisition by A, or

(ii)in satisfaction of a right of A's to call for their delivery;

(b)on a failure to deliver the shares in accordance with the terms of such a contract or on which such a right falls to be satisfied;

(c)on the lapse of A's right to call for the delivery of shares.]

Textual Amendments