Companies Act 2014 section 1081

Duty of PLC to notify authorised market operator

Section 1081 requires a public limited company to notify the relevant authorised market operator when it, or its subsidiary, purchases its own shares on a regulated market, and sets out the timeframe and consequences for non-compliance.

• When a PLC or its subsidiary purchases the PLC's own shares on a regulated market, the PLC must notify the authorised market operator of that purchase — unless it was an overseas market purchase.
• The notification must be made before the end of the day following the day on which the purchase took place.
• The authorised market operator may publish the information it receives in whatever manner it sees fit.
• Failure to comply is a category 3 offence, applying to both the PLC itself and any officer in default.

---