Companies Act 2014 section 1061

Individual and group acquisitions register

Section 1061 requires a public limited company (PLC) to establish and maintain a register recording information about individuals and groups who acquire interests in its shares.

• A PLC must keep an "individual and group acquisitions register" and enter all notified information about share interests — whether held directly, indirectly, individually or by a group — within 3 days of receipt, along with the date of entry.
• Where a person ceases to be party to a share acquisition agreement, the PLC must update every place in the register where that person's name appears in connection with that agreement.
• The register must be arranged in chronological order, and the PLC must maintain a separate index of names (unless the register itself functions as an index), updating it within 10 days of any new name being entered.
• If a PLC ceases to be a PLC, it must continue to keep the register and any associated index for 6 years; failure to comply with any of these requirements is a category 3 offence for the company and any officer in default.