Securities Industry Act - The Bahamas Laws On-Line - The ...

SECURITIES INDUSTRY [CH.363 – 59
of a nominal value equal to one-tenth or more of the
nominal value of that share capital, suffers a decrease
of more than ten per cent in the nominal value of
such shares in which he is interested, so that the
nominal value of such shares in which he is
interested a equal to less than one-tenth of the
nominal value of that share capital, or becomes
uninterested in such shares,
shall notify the company in writing of the occurrence of the
event resulting in his change of interest within five days of
the date on which it occurred, and the number of shares in
that share capital in which he has become interested or has
lost interest.
(2) Every person who, when this Part comes into
operation, is interested in shares comprised in the relevant
share capital of a public company of a nominal value of
one tenth or more of the nominal value of that share capital
shall within five days notify the company of the
subsistence of his interests at that time and the number of
shares comprised in that share capital in which each
interest subsists at that time.
(3) In the event that a company becomes a public
company, or a public company’s share capital of any class
becomes relevant share capital, subsection (2) shall apply
as in the case therein mentioned but with the substitution
for the reference to the time when this Part comes into
operation the reference to- the time at which the event
occurs.
(4) This section shall not apply to an interest in
relevant capital held by any person in a public company
for the purpose of making a market in trading in securities.
87. (1) Every public company to which section 86
applies shall keep a register for the purposes of that section
and whenever the company is notified by a person as is
required by that section, it shall inscribe in the register
against the name of that person the information so notified
and the date of the inscription, and shall inform the
Commission accordingly.
(2) Subsections (5), (6) and (7) of section 85 shall
apply to the register required to be kept under this section.
Register of
interest in voting
shares.
[Original Service 2001]
STATUTE LAW OF THE BAHAMAS