Companies Act 1985

[F1210A Power to make further provision by regulations.E+W+S

(1)The Secretary of State may by regulations amend—

(a)the definition of “relevant share capital” (section 198(2)),

(b)the percentage giving rise to a “notifiable interest” (section 199(2)),

(c)the periods within which an obligation of disclosure must be fulfilled or a notice must be given (sections 202(1) and (4) and 206(8)),

(d)the provisions as to what is taken to be an interest in shares (section 208) and what interests are to be disregarded (section 209), and

(e)the provisions as to company investigations (section 212);

and the regulations may amend, replace or repeal the provisions referred to above and make such other consequential amendments or repeals of provisions of this Part as appear to the Secretary of State to be appropriate.

(2)The regulations may in any case make different provision for different descriptions of company; and regulations under subsection (1)(b), (c) or (d) may make different provision for different descriptions of person, interest or share capital.

(3)The regulations may contain such transitional and other supplementary and incidental provisions as appear to the Secretary of State to be appropriate, and may in particular make provision as to the obligations of a person whose interest in a company’s shares becomes or ceases to be notifiable by virtue of the regulations.

(4)Regulations under this section shall be made by statutory instrument.

(5)No regulations shall be made under this section unless a draft of the regulations has been laid before and approved by a resolution of each House of Parliament.]

Textual Amendments