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Part 22Information about interests in a company’s shares

Notice requiring information about interests in shares

794Notice requiring information: order imposing restrictions on shares

(1)Where—

(a)a notice under section 793 (notice requiring information about interests in company’s shares) is served by a company on a person who is or was interested in shares in the company, and

(b)that person fails to give the company the information required by the notice within the time specified in it,

the company may apply to the court for an order directing that the shares in question be subject to restrictions.

For the effect of such an order see section 797.

(2)If the court is satisfied that such an order may unfairly affect the rights of third parties in respect of the shares, the court may, for the purpose of protecting those rights and subject to such terms as it thinks fit, direct that such acts by such persons or descriptions of persons and for such purposes as may be set out in the order shall not constitute a breach of the restrictions.

(3)On an application under this section the court may make an interim order.

Any such order may be made unconditionally or on such terms as the court thinks fit.

(4)Sections 798 to 802 make further provision about orders under this section.