Companies Act 2014 section 1110D

Facilitation of exercise of shareholder rights

Section 1110D sets out the obligations of intermediaries and traded PLCs to facilitate the exercise of shareholder rights, including arrangements for voting, electronic vote confirmations, and the transmission of those confirmations through chains of intermediaries.

• Intermediaries providing services to shareholders must either make arrangements for shareholders to exercise their rights or exercise those rights on the shareholder's explicit instruction and for their benefit.
• Traded PLCs must promptly send electronic confirmation of receipt when votes at a general meeting are cast electronically, and must confirm that votes were validly recorded and counted if a shareholder requests this.
• Intermediaries receiving vote confirmations must transmit them promptly to the relevant shareholder, passing them along a chain of intermediaries where direct transmission is not possible.
• Shareholders in a traded PLC may nominate a third party to exercise rights and receive confirmations on their behalf under this section.