Search a Keyword!

Search our legal repository for any term from articles, statutes to cases

Section 122 Companies and Allied Matters Act 2020

Section 122 CAMA 2020

Section 122 Companies and Allied Matters Act is about Register of interests in shares. It is under Disclosure of Persons With Significant Control of Chapter 6 of PART B (Incorporation of Companies and Incidental Matters) of the Act.

Register of interests in shares

(1) A public company shall keep a register in which it shall enter—
(a) in alphabetical order, the names of persons from whom it has received a notice under section 121 ; and
(b) against each name so entered, the information given in the notice, and where it receives a notice under section 121, the information given in that notice.

(2) The register shall be kept at the place where the register of members required to be kept under section 110 is kept and subject to the same right of inspection as the register of members.

(3) The Commission may, at any time in writing, require the company to furnish it with a copy of the register or any part of the register and the company shall furnish the copy within 14 days after the day on which the requirement is received.

(4) If the company ceases to be a public company, it shall continue to keep the register until the end of the period of six years beginning with the day following that on which it ceases to be such a company.

(5) A company shall not, by reason of anything done for the purposes of this section, be affected with notice of, or put on enquiry as to, a right of a person to or in relation to a share in the company.

See also  Section 55 Companies and Allied Matters Act 2020

(6) If default is made in complying with this section, the company and every officer of the company are liable to—
(a) such fine as the Commission may prescribe by regulation ; and
(b) additional daily default fine that the Commission shall specify by regulation.

Leave a Reply

Your email address will not be published. Required fields are marked *