Information Classification: PUBLIC
Interest type:Securities
What the regulations say:Any beneficial interest in securities of a body where— (a) that body (to the member's knowledge) has a place of business or land in the area of the relevant authority; and (b) either— (i) the total nominal value of the securities exceeds £25,000 or one hundredth of the total issued share capital of that body; or (ii) if the share capital of that body is of more than one class, the total nominal value of the shares of any one class in which the relevant person has a beneficial interest exceeds one hundredth of the total issued share capital of that class.
What this means:Essentially securities that you, your spouse, civil partner, etc. own, with or without others, which are shares, debentures, debenture stock, loan stock, bonds, units of a collective investment scheme within the meaning of the Financial Services and Markets Act 2000 and other securities of any description, other than money deposited with a building society. The body to which the securities relate needs to have a place of business or land in the area of the council of which you are a member and one of the conditions in (b)(i) or (ii) above has to be met. Even if the body is dormant the securities must be registered. We have interpreted ‘place of business’ as including the registered office of the body.
Interests: