Shareholders’ addresses will only be available on request to the company, rather than freely available.

In order to prevent shareholders of controversial companies such as Huntingdon Life Sciences being targeted by activists, and to prevent shareholders being victimised by boiler room scams, the Act requires anyone who wishes to inspect a company’s shareholder register – including shareholders themselves – to obtain the company’s permission and disclose the reason for requesting the information. Companies will have to go to court if they want to refuse a request.

Although this provision comes into force in October, commencement is being staggered according to individual companies’ annual return dates. A company will be subject to the provisions once it has filed its annual return made up to a date after 30 September 2007, in order to avoid putting a company in the situation where it is ordered by a court to refuse an access request and then has to file an annual return disclosing full shareholder information.

From October 2008, to ensure that the access requirements cannot be circumvented by obtaining shareholder details from a company's annual return, companies will only need to disclose limited shareholder information in their annual return, with the obligations on private and most public companies being limited to disclosure of shareholder names and shareholdings only.

The Companies Act explained

Part 1: the longest piece of legislation ever

Part 2: timetable for introduction

Part 3: directors' duties

Part 4: claims against directors

Part 5: company secretaries

Part 6: auditors' liability

Part 7: greater rights for non-registered shareholders

Part 8: deregulation for small businesses

Part 9: electronic communication with shareholders

Part 10: shareholders' addresses

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