Section: This information pertains to the Notice of Director's Shareholding.
Purpose: The purpose of this notice is to ensure that directors of a company disclose their shareholdings in the company. This helps to prevent conflicts of interest and ensure transparency.
Applicability: The notice is applicable to all directors of a company, including executive and non-executive directors.
Timeline: The notice must be submitted within 14 days of the director acquiring or disposing of shares in the company, or becoming aware of a change in their shareholding.
Exemption: There are no exemptions to this requirement.
Penalty for not doing (specify amount): Failure to submit a Notice of Director's Shareholding can result in penalties and fines for the company and the director. The amount of the penalty varies depending on the severity of the breach, but can range from a warning to a substantial fine.
Due date: The notice must be submitted within 14 days of the director acquiring or disposing of shares in the company, or becoming aware of a change in their shareholding.
Forms: The notice can be submitted in writing or electronically, and must include the name of the director, the date of the transaction, the type and number of shares acquired or disposed of, and the price paid or received.
Reporting authority: The notice must be submitted to the company secretary or other designated person responsible for receiving such notices.
Other details: It is important for directors to understand their obligations with respect to the disclosure of their shareholdings in the company. Failure to comply with these requirements can result in serious consequences for both the company and the director.
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