Companies Act 2014 section 1046

Purpose of Chapter

Section 1046 sets out the purpose of the chapter, which is to require the disclosure to a public limited company (PLC) of interests in its shares carrying full voting rights, and to require the PLC to maintain a register of those disclosures.

• Persons must disclose when they acquire or cease to hold an interest in a PLC's full voting rights shares that equals or exceeds a specified percentage threshold
• Disclosure is also required whenever an acquisition or disposal causes the percentage level of interest to cross a whole-number percentage boundary
• Interests held by a person's spouse, civil partner, child, or a body corporate controlled by any of them are treated as the person's own interest, as are interests held by parties to certain agreements with that person
• The chapter empowers, and in some cases requires, a PLC to investigate whether interests in its full voting rights shares are currently held or have been held within a certain period