ontologies

Category 7: Shareholdings

Threshold for registration

#51.Members must register, subject to the paragraphs below, any holdings which:

i)amount to more than 15% of the issued share capital of that company, or more than 15% of a partnership;

ii)are valued at more than £70,000.49

Requirements for registration

52.Under this category Members must register:

a)Shareholdings or share options which they hold, either by themselves or with or on behalf of their spouse, partner or dependent children. This includes any shares which are managed by a trust (other than a blind trust) (For a trust to be regarded as a blind trust the Member must not know details of how their assets are invested or give trustees instructions about specific investments. They may however give general directions about the nature of investments when the trust is established, may receive reports on its overall performance and may realise some or all of its assets. In certain circumstances there may be a requirement to declare a blind trust. See paragraph 4 of chapter 2 for more details) or similar delegated management arrangement) and any holdings in sector-specific vehicles;

b)Interests in LLPs or other partnerships.

53.Members should not register under this category:

a)Holdings in collective investment vehicles such as unit trusts, investment companies with variable capital (ICVCs) and investment trusts;

b)Assets held in blind trusts;

c)Pensions (except for property held for self-invested personal pensions).

54.Members are required to provide the following information:

a)The name of the company or organisation;

no address?

b)A brief description of the nature of its business, and of any relevant trust or delegated management arrangement;

not sure what any relevant trust or delegated management arrangement’ means?

c)Whether the holding falls to be registered under (i) or (ii) of paragraph 51 above;

d)The date on which the holding was acquired or achieved registrable value. (Existing holdings should be valued as at the previous 5 April. If this is not possible, the Member should make their best estimate of the value on that date and register the holding within 28 days of their valuation, the date of which should be given.)