892 Returns by nominee holder of securities

Summary

This section obliges a holder of securities, if so required by written notice from an inspector, to furnish to the inspector, within the time specified in the notice, information as to whether or not he/she is the beneficial owner of the securities and, if he/she is not the beneficial owner, to furnish, in respect of each person on whose behalf the securities are registered in his/her name, the name and address of such person and certain specified particulars in relation to the securities.

Details

(1) “securities” include —

• shares, stocks, bonds, debentures and debenture stock of a company (within the meaning of section 4(1)) and also any promissory note or other instrument evidencing indebtedness issued to a loan creditor (within the meaning of section 433(6)) of a company;
• Irish government securities and any stock, debenture, debenture stock, certificate of charge or other security which is issued with the statutory approval of the Minister for Finance and in relation to which the principal and interest is guaranteed by the Minister for Finance (for example, stock issued by the ESB);
• securities of the government of any country or territory outside the State.

(2) An inspector may require any person in whose name any securities are registered to state whether or not he/she is the beneficial owner of the securities and, if he/she is not the beneficial owner, to supply in respect of each person on whose behalf the securities are registered —

• the name and address,
• the nominal value of the securities and, where the securities include shares, the number and class of shares,
• the date each security was registered in the nominee’s name.

The request for the information must be sent by written notice from the inspector to the person in whose name the securities are registered and the information must be furnished to the inspector by that person within the time specified in the notice.

Relevant Date: Finance Act 2019