COMPANIES ACT - 1963 (ACT 179)

    Section - 215 - Register of Directors' Holdings

    (1) Every company shall keep a register showing, as respects each director of the company, the number and description and, in the case of debentures, the amount, of any shares in or debentures of the company or any associated company of which he is the holder or in which he has, directly or indirectly, any beneficial interest or right to acquire, or of which he has an option to buy or sell:

    Provided that the register need not include shares in any body corporate which is the wholly owned subsidiary of another body corporate.

    (2) The nature and extent of a director's interest in any shares or debentures recorded in relation to him in the said register shall, if he so requires, be indicated in the register.

    (3) Where any shares or debentures fail to be or cease to be recorded in the said register in relation to any director by reason of a transaction entered into after the commencement of this Code and while he is a director, the register shall also show the date of, and price or other consideration for the transaction; and where there is an interval between the agreement for any such transaction and the completion thereof, the date shown shall be that of the agreement.

    (4) The register shall be kept at the same place as the register of members maintained in accordance with section 32 of this Code, and shall be open to inspection during business hours, subject to such reasonable restrictions as the company's Regulations may impose but so that not less than two hours in each day, other than Saturdays, Sundays and public holidays, be allowed for inspection, by any member or debentureholder or any former member or debentureholder or by the auditor of the company or by the Registrar.

    (5) The register shall also be produced at the commencement of any general meeting of the company and remain open and accessible during the continuance of the meeting to any person attending the meeting.

    (6) It shall be the duty of any director of the company to give notice to the company of such matters relating to himself as may be necessary for the purposes of complying with subsections (1) and (3) of this section.

    (7) Any such notice shall be in writing and shall be given within twenty-eight days after the commencement of this Code and within twenty-eight days after the occurrence of any transaction occurring thereafter which requires recording.

    (8) If the notice is not given at a meeting of directors, the director giving it shall take reasonable steps to secure that it is brought up and read at the next meeting of directors after it is given.

    (9) If default is made in complying with subsections (6), (7) and (8) of this section, the director concerned shall be liable to a fine not exceeding one hundred pounds for each default.

    (10) If default is made in complying with subsection (1), (3), (4) or (5) of this section the company and every officer of the company who is in default shall be liable to a fine not exceeding one hundred pounds and if any inspection required under subsections (4) and (5) is refused the Court may by order compel an immediate inspection of the register.

    (11) The company shall not, by virtue of anything done for the purposes of this section, be affected with notice of, or put upon enquiry as to, the right of any person in relation to any shares and debentures.

    (12) For the purposes of this section a director shall be deemed to be beneficially interested in shares or debentures if a body corporate holds them or has any right in or over them and that body corporate or its directors are accustomed to act in accordance with his directions or instructions, or he is entitled to exercise or control the exercise of one-third or more of the voting power at any general meeting of that body corporate.