Commentary Part 22: Information about Interests in Company’s Shares.Background Sections 794 and 795: Notice requiring information: order imposing restrictions on shares and offences
1117.These sections re-enact section 216(1) to (4) of the 1985 Act. They specify the penalties for failure to provide information within the specified time when served with a notice under section 793. There are criminal penalties (although a person does not commit an offence if he can show that the requirement to give information was frivolous or vexatious).
1118.Additionally, application may be made to the court for a direction that the shares in question are to be subject to the restrictions specified in section 797.