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EG 7.9 Suspensions of voting rights

EG 7.9.1RP

1Where a person who is a shareholder has contravened one or more relevant transparency provisions (as defined in section 89NA(11) of the Act) in respect of shares in a company admitted to trading on a regulated market and the FCA considers the breach to be serious, the FCA may apply to the Court for an order suspending that person’s voting rights as set out in section 89NA of the Act.

EG 7.9.2RP

1Decisions about whether to apply to the Court for a voting rights suspension order under the Act will be made by the executive director of Enforcement, or in his or her absence, the acting executive director of Enforcement2.

EG 7.9.3RP

1In deciding whether to apply for a voting rights suspension order, the FCA will consider all the relevant circumstances of the case, and in particular will have regard to the factors listed in 89NA(4) of the Act.