Version Superseded: 31/12/2020
Point in time view as at 06/04/2018. This version of this provision has been superseded.
Companies Act 2006, Section 970 is up to date with all changes known to be in force on or before 02 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(1)A company that has passed an opting-in resolution or an opting-out resolution must notify—
(a)the Panel, and
(b)where the company—
(i)has voting shares admitted to trading on a regulated market in an EEA State other than the United Kingdom, or
(ii)has requested such admission,
the authority designated by that state as the supervisory authority for the purposes of Article 4.1 of the Takeovers Directive.
(2)Notification must be given within 15 days after the resolution is passed and, if any admission or request such as is mentioned in subsection (1)(b) occurs at a later time, within 15 days after that time.
(3)If a company fails to comply with this section, an offence is committed by—
(a)the company, and
(b)every officer of it who is in default.
(4)A person guilty of an offence under this section is liable on summary conviction to a fine not exceeding level 3 on the standard scale and, for continued contravention, a daily default fine not exceeding one-tenth of level 3 on the standard scale.
Modifications etc. (not altering text)
C1Ss. 966-973 applied (with modifications) (1.10.2009) by The Unregistered Companies Regulations 2009 (S.I. 2009/2436), regs. 3-5, Sch. 1 para. 14(1) (with transitional provisions and savings in regs. 7, 9, Sch. 2)
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