Section 793 notice meaning

This Practice Note summarises the duties on directors to declare their interests in shares under the Companies Act 2006 (CA 2006) and the UK Market Abuse Regulation, including reporting obligations for dealings by directors and other persons discharging managerial responsibilities (PDMRs) of listed companies. This Practice Note does not cover the disclosure obligations of companies. Register of directors' interests in shares—continued relevance for all companies Under the Companies Act 1985, companies were obliged to keep a register of directors’ interests in the company’s shares. There is no equivalent obligation in CA 2006, so this register is no longer mandatory. In practice, however, companies (in particular public companies) are likely to retain a register of directors’ interests to monitor any notifications made, eg disclosures by PDMRs under the UK Market Abuse Regulation (see Disclosures by PDMRs under the Market Abuse Regulation below). A company may have to disclose information about directors’ interests in certain situations, eg during a takeover offer. Keeping a register of directors’ interests means the necessary...

STOP PRESS: The Financial Services and Markets Act 2023 (Private Intermittent Securities and Capital Exchange System Sandbox) Regulations 2025, SI 2025/583 (the PISCES Regulations) have established a five‑year regulatory sandbox for financial market infrastructure. It authorises the creation of share trading platforms to support secondary dealing in private and unquoted public company shares via intermittent trading events. Commencing on 5 June 2025, the PISCES Regulations temporarily adjust the Companies Act 2006 (CA 2006), particularly the provisions allowing a public company to investigate interests in its shares, for the sandbox’s duration. For these purposes, references to public companies in CA 2006, ss 791–828 are to be read as including companies with voting shares traded on an approved private intermittent securities and capital exchange system (PISCES); CA 2006, ss 803–807 are treated as disapplied; and the reference in CA 2006, s 819(1) to a company ceasing to be a public company is to be interpreted as a company ceasing to have voting shares traded on an approved PISCES. For additional detail,...

[ Insert name of company ] [ Insert address of company ] [ Insert fax number of company ] [ Insert email address of company ] [ Insert name of recipient and/or their job title, if appropriate, eg company secretary/directors of [ name of company ] ] [ Insert address of recipient ] [ Insert date ] Dear [ [ Insert name of recipient ] OR [ Insert job title, eg company secretary or directors ] ] Section 793 of the Companies Act 2006—request for information about interest in the [[ insert class ]] shares of [ insert name of company ] It is our view that you either presently have, or have had within the three years prior to the date of this notice, an interest in the [[ insert class ]] shares of [ insert name of company ] (the Company). This notice is given under section 793 of the Companies Act 2006, and...