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Disclosure of Interests in Shares (Amendment) Regulations (Northern Ireland) 1994
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- Northern Ireland Statutory Rules
- 1994 No. 2
- Regulation 7
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Article 214
7.—(l) In Article 214 (obligation of persons acting together to keep each other informed) in paragraph (3)(a), for the words “if he were under the obligation of disclosure with respect to that interest” there shall be substituted “if he were under the wide obligation of disclosure with respect to that interest” and after sub-paragraph (b) there shall be inserted—
“and
(c)except in the circumstance mentioned in paragraph (3A), the number of shares (if any) out of the number given under sub-paragraph (a) in which he knows that, immediately after the time when the obligation to give the notice arose, he had interests (apart from the agreement) which were not material interests.”.
(2) After Article 214(3) there shall be inserted the following paragraphs—
“(3A) The circumstance referred to in paragraph (3)(c) is that the aggregate nominal value of the shares comprised in relevant share capital in which the person is interested (apart from the agreement) is equal to or more than 10 per cent. of the nominal value of the relevant share capital.
(3B) For the purposes of paragraph (3)(a) “the wide obligation of disclosure” means the obligation to disclose the number of shares in which the person concerned has any interest (material or otherwise).”.
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