Part 10Close companies

Chapter 4Power to obtain information

465Power to obtain information

F1(1)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2)

Subsections (3) and (4) apply if a company (“the issuing company”) appears to an officer of Revenue and Customs to be a close company.

(3)

The officer may, for the purposes of Chapter 3 F2or 3A , by notice require the issuing company to provide the officer with—

(a)

particulars of any bearer securities issued by the company,

(b)

the names and addresses of the persons to whom the securities were issued, and

(c)

details of the amounts issued to each person.

(4)

The officer may, for the purposes of Chapter 3 F2or 3A , by notice require—

(a)

any person to whom bearer securities were issued by the company, or

(b)

any person to or through whom bearer securities issued by the company were subsequently sold or transferred,

to provide any further information that the officer reasonably requires with a view to enabling the officer to find out the names and addresses of the persons beneficially interested in the securities.

(5)

In this section “securities” includes—

(a)

shares, stocks, bonds, debentures and debenture stock, and

(b)

any promissory note or other instrument evidencing indebtedness to a loan creditor of the company.