PART 2AMENDMENTS TO THE COMPANIES LEGISLATION
Companies (Northern Ireland) Order 1986 (S.I. 1986/1032 (N.I. 6))
Disclosure of interests in shares: interests to be disclosed48
1
Article 207 of the 1986 Order (interests in shares required to be disclosed) is amended as follows.
2
In paragraph (2A)52, in sub-paragraph (a) for “authorised to” substitute “who may lawfully”.
3
In that paragraph, in sub-paragraph (b), for paragraphs (ii) and (iii) substitute—
or
ii
a recognised scheme;
4
For paragraphs (6) and (7)53 substitute—
6
For the purposes of paragraph (2A), a person (“A”) may lawfully manage investments belonging to another if—
a
A can manage those investments in accordance with the permission which A has under Part 4 of the Financial Services and Markets Act 2000;
b
A is an EEA firm of the kind mentioned in sub-paragraph (a) or (b) of paragraph 5 of Schedule 3 to that Act, and can manage those investments in accordance with its EEA authorisation;
c
A can, in accordance with section 327 of that Act, manage those investments without contravening the prohibition contained in section 19 of that Act; or
d
A can lawfully manage those investments in another Member State and would, if he were to manage those investments in the United Kingdom, require permission under Part 4 of that Act.
7
References in this Article to the management of investments must be read with—
a
section 22 of the Financial Services and Markets Act 2000;
b
any relevant order under that section; and
c
Schedule 2 to that Act.
5
In paragraph (8)—
a
in sub-paragraph (b) for the words from the beginning to “conferred” substitute “is certified by the competent authority in that member State as complying with the conditions imposed”; and
b
for “subsection (8) of section 86 of the Financial Services Act 1986” substitute “subsection (5) of section 264 of the Financial Services and Markets Act 2000”.