Companies Act 2014 section 999

Application of Chapters 1, 2 and 4 of Part 23 to DACs

Section 999 applies the rules on public offers of securities, market abuse and transparency to Designated Activity Companies (DACs), to the extent those rules are relevant to companies that are not public limited companies.

• Chapters 1, 2 and 4 of Part 23 of the Companies Act 2014 cover public offers of securities, prevention of market abuse, and transparency requirements.
• These chapters apply to DACs, but only to the extent that their provisions are applicable to companies other than public limited companies (PLCs).
• Any provisions within those chapters that are directed solely at PLCs do not extend to DACs.
• This ensures that DACs remain subject to appropriate securities and market conduct rules proportionate to their company type.