SCHEDULE 1 Connected Persons: References to an Interest in Shares or Debentures
Companies Act 2006 (2006 c 46) | Legislation

SCHEDULE 1 Connected Persons: References to an Interest in Shares or Debentures

Sections 254 and 255

Introduction

1

(1)     The provisions of this Schedule have effect for the interpretation of references in sections 254 and 255 (directors connected with or controlling a body corporate) to an interest in shares or debentures.

(2)     The provisions are expressed in relation to shares but apply to debentures as they apply to shares.

General provisions

2

(1)     A reference to an interest in shares includes any interest of any kind whatsoever in shares.

(2)     Any restraints or restrictions to which the exercise of any right attached to the interest is or may be subject shall be disregarded.

(3)     It is immaterial that the shares in which a person has an interest are not identifiable.

(4)     Persons having a joint interest in shares are deemed each of them to have that interest.

Rights to acquire shares

3

(1)     A person is taken to have an interest in shares if he enters into a contract to acquire them.

(2)     A person is taken to have an interest in shares if—

(a)     he has a right to call for

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