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COMPANIES (NORTHERN IRELAND) ORDER 1978 - SECT 115



115.(1) The Department may from time to time by order amend paragraphs (1),
(2) and (6) of Article 114 by increasing or reducing the percentage for the
time being mentioned in those paragraphs.

(2) An order under this Article

(a)shall not be made unless a draft of the order has been laid before and
approved by a resolution of the Assembly;

(b)shall not be construed as requiring the notification by any person of the
occurrence of an event before the time when the order comes into operation.

(3) If an order under this Article comes into operation whereby the said
percentage is reduced then, in the case of a company in relation to which the
order has effect, every person who at that time is interested in shares
comprised in relevant share capital of the company of a nominal value equal to
the reduced percentage or more but less than the percentage prior to the
reduction of the nominal value of that share capital shall be under an
obligation to notify the company of the subsistence of his interests at that
time and the number of shares comprised in that share capital (specifying it)
in which each interest subsists at that time.

(4) Paragraphs (5) to (12) of Article 114 shall have effect in relation to
paragraph (3) as they have effect in relation to paragraph (2) of that Article
but as if in paragraphs (6) and (10) for references to five days there were
substituted references to fourteen days and as if in paragraph (6) for
references to the percentage there specified there were substituted references
to the reduced percentage.



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© 1978 Crown Copyright

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