ABSTRACT
By s 324, a director of a company is under an obligation to notify the company in writing of his shareholding in the company, including the number of shares of each class and the amount of debentures he holds. A director must also notify the company in writing of any changes in his interests in the shares and if he enters into a contract to sell them. By s 325, the company must keep a register to record these interests. This register is open to inspection by any member of the company, free of charge, and any other person, on payment of a fee.91 The section also applies to shadow directors and is extended by s 328 to the spouse and children of the directors, so that a shareholding of the spouse or children is to be treated as that of the director.
