Companies Act 2014 section 1091

Modification of section 149(8)'s operation where public or local offer co-incides with change among directors

Section 1091 requires a PLC to accelerate its notification to the Registrar of a change in directors when it issues a prospectus or local offer document before the normal notification deadline has expired.

• Under section 149(8), a company normally has a set period to notify the Registrar of any change among its directors or secretary.
• If a PLC issues a prospectus or a local offer document (as defined in Chapter 1 of Part 23) before that normal notification period has expired, the deadline is brought forward.
• The PLC must send the notification of the change in directors to the Registrar no later than the time the prospectus or offer document is issued.
• This ensures that the public register of directors is up to date at the point when investors are being invited to subscribe for shares.