Removes information about shareholders and shareholdings from annual return requirements for companies subject to DTR 5
The Companies Act 2006 (Annual Returns) Regulations 2011 came into force from on 1 October 2011. The Regulations apply to annual returns made up to that date or a later date. The Regulations are here and the explanatory memorandum is here.
The principal effect of the Regulations is to amend Part 24 of the Companies Act 2006 so that no information about shareholders that has already been announced to the market under Disclosure and Transparency Rule 5 has to be included in a company’s annual return.
For the vast majority of companies, the Regulations do not change the requirements to provide information about their shareholders and their shareholdings.
The Regulations also:
- Reduce the amount of shareholder information required from companies which at any time in the return period had shares admitted to trading on a “relevant market” or on any other market outside the UK;
- Require a company to state whether its shares were traded on any market during the return period; if so, the annual return must also state whether, throughout the return period, there were shares of the company admitted to trading on a relevant market and whether the company was a DTR 5 issuer; and
- Make minor amendments to the classification system companies may use to describe their principal business activities.
“Relevant market” is defined in article 2 of the Regulations and includes the Main Market of the London Stock Exchange, the AIM market and the PLUS markets.
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