The following Corporate practice note provides comprehensive and up to date legal information covering:
This Practice Note outlines the requirements on directors to disclose their interests in shares under the Companies Act 2006 and the Market Abuse Regulation (including the requirements for disclosure of share dealing by directors and other persons discharging managerial responsibilities (PDMRs) of listed companies). This Practice Note does not consider the disclosure obligations of companies.
Under the Companies Act 1985, companies were required to maintain a register of directors' interests in shares of the company. Companies no longer need to maintain such a register as there is no equivalent requirement in the Companies Act 2006 (CA 2006).
In practice, however, companies (in particular public companies) are likely to maintain a register of directors' interests to keep track of any notifications made, eg disclosures made by PDMRs under the Market Abuse Regulation (see Disclosures by PDMRs under the Market Abuse Regulation below).
A company may need to disclose details of directors' interests in certain circumstances (eg in the context of a takeover offer). Maintaining a register of directors' interests ensures that the information required can be retrieved easily and quickly, as it is up to date and recorded in the company's registers.
For further information regarding disclosure of interests in the context of takeovers, see Practice Note: Disclosure of interests and dealings in shares prior to and
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
The Standard Conditions of Sale (SCS), currently in their 5th edition (2018 revision), are a set of standard conditions which are commonly incorporated into contracts for the sale of residential property. The Standard Commercial Property Conditions (Third Edition—2018 Revision) (SCPC) are used for
Tipping off and prejudicing an investigationIt would undermine the benefit to the authorities if, a suspicious activity report (SAR) having been made, the alleged offender were to be made aware of the interest in their activities so that they could take steps to cover up their misdeeds or disappear.
What is QOCS?Qualified one-way costs shifting (QOCS) was introduced on 1 April 2013 as part of the Jackson costs reforms following the removal of a claimant’s right to recover additional liabilities from the defendant, ie success fees and after the event (ATE) insurance premiums. The relevant CPR
One of the initial signs of distress is usually a covenant breach by the company. The lenders may agree to a simple waiver, which cures a temporary blip in the company's performance, or it may signal the need for more extensive restructuring to come. It will be crucial to check how often the
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.