A&O Shearman was formed in 2024 via the merger of two historic firms, Allen & Overy and Shearman & Sterling. With nearly 4,000 lawyers globally, we are equally fluent in English law, U.S. law and the laws of the world’s most dynamic markets.
This combination creates a new kind of law firm, one built to achieve unparalleled outcomes for our clients on their most complex, multijurisdictional matters – everywhere in the world. A firm that advises at the forefront of the forces changing the current of global business and that is unrivalled in its global strength.
Our clients benefit from the collective experience of teams who work with many of the world’s most influential companies and institutions, and have a history of precedent-setting innovations.
Together our lawyers advise more than a third of NYSE-listed businesses, a fifth of the NASDAQ and a notable proportion of the London Stock Exchange, the Euronext, Euronext Paris and the Tokyo and Hong Kong Stock Exchanges.
On 12 April 2016, BIS published updated versions of both its non-statutory guidance for companies, SEs and LLPs and its non-statutory guidance for people with significant control.
On 12 April 2016, the Department for Business, Innovation and
Skills ("BIS") published updated versions of both its
non-statutory guidance for companies, SEs and LLPs and its
non-statutory guidance for people with significant control.
The revised guidance is broadly the same as previous guidance,
however amendments include:
clarifying that a person's direct and indirect interests
must be aggregated for the purpose of choosing the appropriate
statement to include in a PSC register;
deleting an option to acquire shares from the examples of
rights exercisable only in certain circumstances. The guidance for
companies also includes a new paragraph stating that weighted
voting rights on particular matters are unlikely to meet the voting
rights test in the second specified conditions; and
correcting the official wording for inclusion in the PSC
register of an LLP.
For a summary of the previous BIS non-statutory guidance, please
see our Q1 2016 Governance and Securities newsletter available
here:
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
