Companies Act 2014 section 257

"Disclosable interest" — meaning of that term

Section 257 defines what constitutes a "disclosable interest" in shares or debentures for the purposes of the disclosure obligations placed on directors and other officers.

• A disclosable interest means any interest of any kind whatsoever in the shares or debentures of a body corporate, subject to certain exclusions set out in section 260
• Any restrictions or restraints on the exercise of rights attached to the interest are to be disregarded when determining whether a disclosable interest exists
• It does not matter whether the interest is held alone, jointly, or in common with another person
• It is also irrelevant whether the particular shares or debentures in question are identifiable or not