Companies Act 1985

Supplementary E+W+S

220 Definitions for Part VI. E+W+S

[F1 (1) In this Part of this Act—

• “associated index”, in relation to a register, means the index kept in relation to that register in pursuance of section 211(6);

• “authorised credit institution” means a credit institution as defined in Article 1 of Council Directive 77/780/EEC M1 which is authorised to carry on the business of a credit institution by a competent authority of a member State other than the United Kingdom;

• “authorised insurance undertaking” means an insurance undertaking which has been authorised in accordance with Article 6 or 23 of Council Directive 73/239/EEC M2 or Article 6 or 27 of Council Directive 79/267/EEC M3 , or is authorised under the law of a member State to carry on insurance business restricted to re-insurance;

• “authorised unit trust scheme” has the same meaning as in Chapter VIII of Part I of the Financial Services Act 1986;

• “depositary receipt” means a certificate or other record (whether or not in the form of a document)—

  (a)

  which is issued by or on behalf of a person who holds shares or who holds evidence of the right to receive shares, or has an interest in shares, in a particular company; and

  (b)

  which evidences or acknowledges that another person is entitled to rights in relation to those shares or shares of the same kind, which shall include the right to receive such shares (or evidence of the right to receive such shares) from the person mentioned in paragraph (a);

• “derivatives” means—

  (a)

  options to acquire or dispose of shares; and

  (b)

  rights under a contract falling within paragraph 8 of Schedule 1 to the Financial Services Act 1986 (futures), where the property in question is shares;

• “designated agency” has the same meaning as in the Financial Services Act 1986;

  [F2 “investment company with variable capital” has the same meaning as in the Open-Ended Investment Companies (Investment Companies with Variable Capital) Regulations 1996;]

• “listed company” means a company any of the shares in which are officially listed on a relevant stock exchange and “listed” shall be construed accordingly;

• “material interest” shall be construed in accordance with section 199(2A);

• “operator”, in relation to a collective investment scheme, shall be construed in accordance with section 75(8) of the Financial Services Act 1986;

• “recognised clearing house”, “recognised professional body”, “recognised scheme”, and “recognised self-regulating organisation” have the same meaning as in the Financial Services Act 1986;

• “register of interests in shares” means the register kept in pursuance of section 211 including, except where the context otherwise requires, that part of the register kept in pursuance of section 213;

• “relevant investment exchange” means an exchange situated or operating in a member State on which derivatives are traded;

• “relevant share capital” has the meaning given by section 198(2);

• “relevant stock exchange” means a stock exchange situated or operating in a member State;

• “UCITS” has the meaning given by section 199(8);

• “units” has the same meaning as in section 75 of the Financial Services Act 1986.]

(2) Where the period allowed by any provision of this Part for fulfilling an obligation is expressed as a number of days, any day that is a Saturday or Sunday or a bank holiday in any part of Great Britain is to be disregarded in reckoning that period.

Textual Amendments

F1 S. 220(1) substituted (18.9.1993) by S.I. 1993/1819, reg. 9

F2 Definition of “investment company with variable capital” in s. 220(1) inserted (6.1.1997) by S.I 1996/2827, reg. 75, Sch. 8 Pt.I para. 7

Marginal Citations

M1 OJ No. L322, 17.12.77, p. 30, as amended by Council Directive 86/524/EEC (OJ No. L309, 4.11.86, p. 15) and Council Directive 89/646/EEC (OJ No. L386, 30.12.89, p. 1)

M2 OJ No. L228, 16.8.73, p. 3.

M3 OJ No. L63, 13.3.79, p. 1.