Companies Act 2014 section 269

Register of interests: removal of entries from it

Section 269 sets out the rules governing when and how a company may remove old entries from the register of interests in shares and debentures, and the consequences of improper deletion.

• A company may remove an entry from the register of interests after more than 6 years, provided the entry either recorded that the person ceased to hold a notifiable interest or has been superseded by a later entry against the same person
• Where the removed entry recorded that a person ceased to have a notifiable interest, the company may also remove that person's name from the register entirely, and must update any associated index within 14 days
• Entries must not be deleted from the register except in accordance with these rules, and any entry improperly deleted must be restored as soon as is reasonably practicable
• Failure to comply with these requirements — whether by not updating the index, improperly deleting entries, or failing to restore wrongly deleted entries — is a category 3 offence for the company and any officer in default