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07 August 2009 / Jane Mayfield
Issue: 7381 / Categories: Features , LexisPSL
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People power

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Jane Mayfield provides a summary of the impact of the Shareholder Rights Directive

The Companies (Shareholders’ Rights) Regulations 2009 (SI 2009/1632) (the Regulations) came into force on 3 August 2009 implementing the Shareholder Rights Directive 2007/36/EC. It amends Pt 13 of the Companies Act 2006.

Principal changes include:

In respect of all companies

Voting by a proxy

On a show of hands at a meeting every proxy present has one vote. If a proxy is appointed by multiple members and has instructions to vote both for and against a resolution, he has one vote for and one vote against such resolution.

Voting in advance

A company’s articles of association may now include a provision that on a vote by poll, votes may be cast in advance. In the case of a company with voting shares admitted to trading on an EEA regulated market (a ‘traded company’), such provision may only be subject to requirements or restrictions that are necessary to ensure the identification of the person voting, and proportionate to the achievement of that objective.

Corporate

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Fresh proposals to criminalise ‘nudification’ apps, prioritise cyberflashing and non-consensual intimate images, and even ban under-16s from social media have reignited debate over whether the Online Safety Act 2023 (OSA 2023) is fit for purpose. Writing in NLJ this week, Alexander Brown, head of technology, media and telecommunications, and Alexandra Webster, managing associate, Simmons & Simmons, caution against reactive law-making that could undermine the Act’s ‘risk-based and outcomes-focused’ design
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A Court of Appeal ruling has drawn a firm line under party autonomy in arbitration. Writing in NLJ this week, Masood Ahmed, associate professor at the University of Leicester, analyses Gluck v Endzweig [2026] EWCA Civ 145, where a clause allowing arbitrators to amend an award ‘at any time’ was held incompatible with the Arbitration Act 1996
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