Companies Act 2014 section 815

Right or interest in shares or debentures unenforceable by person in default

Section 815 deals with the consequences for a person who fails to comply with a disclosure order or who provides false information when purporting to comply, specifically the loss of their ability to enforce rights or interests in shares or debentures of the company concerned.

• A person subject to a disclosure order who fails to comply within the specified time period loses the right to enforce any interest in shares or debentures of the relevant company
• The same penalty applies where a person makes a statement to the court that is false, either knowingly or recklessly, when purporting to comply with the order
• The restriction covers rights or interests of any kind whatsoever in respect of shares in or debentures of the company concerned
• Enforcement in this context means enforcement by action or legal proceeding, whether carried out directly or indirectly