Companies Act 2014 section 805

Family and corporate interests

Section 805 defines when a person is deemed to have an interest in shares or debentures through family relationships or through control of corporate bodies, for the purposes of disclosure orders under section 803.

• A person is treated as interested in any shares or debentures held by their spouse, civil partner, or minor child (including a civil partner's child who ordinarily lives with them).
• A person is also deemed interested in shares or debentures held by a corporate body if that body or its directors customarily act on the person's directions, or if the person controls one-third or more of the voting power at its general meetings.
• Where a person controls one-third or more of the voting power in one corporate body, and that body in turn holds voting power in another corporate body, the person is treated as able to exercise that downstream voting power as well.
• A person is considered entitled to exercise or control voting power if they hold a right (whether conditional or not) or are under an obligation whose exercise or fulfilment would give them that entitlement.

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