Companies Act 2014 section 261

Duty to notify disclosable interests — first of the 5 cases in which duty arises — interests held at commencement of Chapter

Section 261 sets out the first of five cases in which a director or secretary must notify the company of disclosable interests in shares or debentures held at the time the Chapter came into force.

• A director or secretary who, at commencement of this Chapter, is aware of holding a disclosable interest in shares or debentures of the company (or a group company) must notify the company in writing.
• The duty extends to interests held by the person's spouse, civil partner, or child, not just interests held personally.
• The written notification must include the prescribed particulars of the disclosable interest and confirm who holds it.
• The duty does not arise where the interest was already notified under the former Companies Act 1990 rules before this section commenced, or where such notification was sent before commencement and received within five days afterwards.