Part 3Companies with small profits

Supplementary

31Power to obtain information

F11

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2

Subsections (3) and (4) apply if a company (“the issuing company”) appears to an officer of Revenue and Customs to be a close company.

3

The officer may, for the purposes of this Part, by notice require the issuing company to provide the officer with—

a

particulars of any bearer securities issued by the company,

b

the names and addresses of the persons to whom the securities were issued, and

c

details of the amounts issued to each person.

4

The officer may, for the purposes of this Part, by notice require—

a

any person to whom bearer securities were issued by the company, or

b

any person to or through whom bearer securities issued by the company were subsequently sold or transferred,

to provide any further information that the officer reasonably requires with a view to enabling the officer to find out the names and addresses of the persons beneficially interested in the securities.

5

In this section—

  • “loan creditor” has the meaning given by section 453, and

  • “securities” includes—

    1. a

      shares, stocks, bonds, debentures and debenture stock, and

    2. b

      any promissory note or other instrument evidencing indebtedness to a loan creditor of the company.