Companies Act 2014 section 992

Requirement for corporate governance statement and modification of certain provisions of Parts 5 and 6 as they apply to DACs

Section 992 applies the corporate governance statement requirements set out in Chapter 3 of Part 23 of the Companies Act 2014 to a Designated Activity Company (DAC) that has debentures admitted to trading on a regulated market in a European Economic Area (EEA) state.

• Chapter 3 of Part 23 contains rules on corporate governance statements and related matters
• These rules apply to a DAC whose debentures are traded on a regulated market in an EEA state
• The requirement extends to DACs alongside other types of companies covered by Chapter 3 of Part 23
• This ensures DACs with publicly traded debentures meet the same corporate governance disclosure standards as other listed entities