Companies Act 2014 section 1047

Interpretation and supplemental (Chapter 4)

Section 1047 defines key terms used in Chapter 4, which deals with the disclosure of interests in shares of public limited companies (PLCs), and clarifies how the rules apply where there are multiple classes of share capital.

• "Child" means a person under the age of majority; "duty of disclosure" is the obligation to notify the company of interests in shares as set out in sections 1048 and 1050; and "notifiable percentage" is the threshold defined in section 1052.
• "Relevant share capital" means the PLC's issued shares of any class that carry voting rights in all circumstances at general meetings of the company.
• Where relevant share capital is divided into different classes, percentage thresholds are calculated separately for each class, and a temporary suspension of voting rights on shares does not remove those shares from the scope of the disclosure rules.
• The application of this Chapter is restricted by regulations made under section 20 of the Investment Funds, Companies and Miscellaneous Provisions Act 2006, preserving limitations that existed under the corresponding provisions of the Companies Act 1990.