728 Information.U.K.
M1(1)In order to obtain for the purposes of [F1sections 710 to 727A] particulars relating to securities, an inspector may by notice require a return under subsection (2) or (3) below.
(2)A member of the Stock Exchange, other than a market maker, may be required to make a return giving, in relation to any transactions effected by him in the course of his business in the period specified in the notice, such particulars as may be so specified.
In relation to transactions before 27th October 1986 this subsection shall have effect with the substitution of “ jobber ” for “market maker”.
(3)A person (other than a member of the Stock Exchange), who acts as an agent or broker in the United Kingdom in transactions in securities, may be required to make a return giving, in relation to any such transactions effected by him in the period specified in the notice, such particulars as may be so specified.
(4)No person shall be required under subsection (2) or (3) above to include in a return particulars of any transaction effected more than three years before the service of the notice requiring him to make the return.
(5)In order to obtain for the purposes of [F1sections 710 to 727A] particulars relating to securities, the Board or an inspector may by notice require any person in whose name any securities are registered to state whether or not he is the beneficial owner of those securities and, if he is not the beneficial owner of them or any of them, to furnish the name and address of the person or persons on whose behalf the securities are registered in his name.
(6)In this section “market maker”, in relation to securities, means a person who—
(a)holds himself out at all normal times in compliance with the rules of the Stock Exchange as willing to buy and sell securities of the kind concerned at a price specified by him; and
(b)is recognised as doing so by the Council of the Stock Exchange.
(7)The Board may by regulations provide that—
(a)subsections (2), (3) and (6)(a) above shall have effect as if references to the Stock Exchange were to any recognised investment exchange (within the meaning of the [F2Financial Services and Markets Act 2000]) or to any of those exchanges specified in the regulations; and
(b)subsection (6)(b) shall have effect as if the reference to the Council of the Stock Exchange were to the investment exchange concerned.
(8)Regulations under subsection (7) above shall apply in relation to transactions effected on or after such day as may be specified in the regulations.
Textual Amendments
F1Words in s. 728(1)(5) substituted (with effect in accordance with s. 79(3) of the amending Act) by Finance Act 1995 (c. 4), s. 79(2) (with s. 79(4))
F2Words in s. 728(7)(a) substituted (1.12.2001) by Financial Services and Markets Act 2000 (c. 8). s. 431(2), Sch. 20 para. 4(5); S.I. 2001/3538, art. 2(1)
Modifications etc. (not altering text)
C1Ss. 710-728 modified (27.7.1993) by 1993 c. 34, s. 63(1)(2)
Ss. 710-728 modified (27.7.1993) by 1993 c. 34, s. 63(3)(4)
Ss. 710-728 modified (27.7.1993) by 1993 c. 34, s. 63(8)(10)
Ss. 710-728 modified (27.7.1993 with effect for the year 1992-93 and subsequent years of assessment) by 1993 c. 34, ss. 176(4), 184(3)
C2Ss. 710-728 modified (with effect in accordance with s. 105(1) of the modifying Act) by Finance Act 1996 (c. 8), Sch. 13 para. 11 (with Sch. 13 para. 16, Sch. 15)
C3Ss. 711-728 modified (31.7.1998) by Finance Act 1998 (c. 36), s. 161(2)(a) (with s. 161(7))
Marginal Citations
M1Source—1985 Sch.23 44(1)-(5A); 1986 Sch.17 6