(1) A company may remove an entry against a person’s name from the register required to be kept by it under section 267 (the “register”) if more than 6 years have elapsed after the date of the entry being made, and either—

  1. that entry recorded the fact that the person in question has ceased to have an interest notifiable under this Chapter in shares in, or debentures of, the company, or
  2. it has been superseded by a later entry made under section 267 against the same person’s name,

and, in a case falling within paragraph (a), the company may also remove that person’s name from the register.

(2) Where a company removes a name from the register pursuant to subsection (1), the company shall, within 14 days after the date of that removal, make any necessary alterations in any associated index.

(3) Entries in the register shall not be deleted except in accordance with subsections (1) and (2).

(4) If an entry is deleted from the register in contravention of subsection (1), the company concerned shall restore that entry to the register as soon as is reasonable and practicable.

(5) If default is made by a company in complying with subsection (2), (3) or (4), the company and any officer of it who is in default shall be guilty of a category 3 offence.