The Companies (Disclosure of Interests in Shares) (Orders imposing restrictions on shares) Regulations 1991

Amendments of Part VI, Companies Act 1985

4.  In section 216 (penalty for failure to provide information required by a company by a notice under section 212),

(a) after subsection (1) insert the following subsections:–

“(1A) On an application made under subsection (1) the court may make an interim order and any such order may be made unconditionally or on such terms as the court thinks fit.

(IB) If the court is satisfied that an order under subsection (1) may unfairly affect the rights of third parties in respect of shares then the court, for the purpose of protecting such rights and subject to such terms as it thinks fit, may direct that such acts by such persons or descriptions of persons and for such purposes as may be set out in the order, shall not constitute a breach of the restrictions of Part XV of this Act”;

(b) for the words “Such an order” at the beginning of subsection (2), substitute “An order under this section”.