Companies Act 2014 section 809

Supplemental power of court in relation to a share acquisition agreement

Section 809 gives the court an additional power to compel other parties to a share acquisition agreement to provide information where the person originally subject to a disclosure order does not appear to hold all the relevant facts.

• Where the court believes a disclosure order may not yield all the necessary information because the person subject to it lacks full knowledge of the facts, the court can order other parties or former parties to the same share acquisition agreement to provide the missing details in writing.
• The information that can be required relates to how section 806 (which deals with the attribution of share interests between parties to a share acquisition agreement) applies or applied to that agreement, including details of any shares attributed to another party.
• This supplemental power can be exercised either at the time the original disclosure order is sought or at any later stage, on application by a person with a financial interest in the company or by the Corporate Enforcement Authority.
• Anyone wishing to make a later application must give at least 10 days' notice to the company whose shares are involved and to the person the order would be directed at; the court may also require notice to be served on additional persons, all of whom may appear and give evidence at the hearing.

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