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Form 42 for subscribed shares by subcontractor?

Subcontractor taking small stake in company - reporting required via Form42 if not a director/empee?

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Can't seem to definitively find the answer to this, but a client has a subcontractor who is taking a minority shareholding in the business but will remain a subcontractor - i.e. not a director or employee and with no controlling stake.

If the shares are subscribed for at MV and she remains a subcontractor, is there a Form 42 requirement? I assume not as there's no employment relationship before or after so no reportable transaction.

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By David Ex
07th Sep 2021 11:04

I think you’re right but the arrangements raise all manner of other questions.

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By norstar
07th Sep 2021 14:24

Yes, the employment status side of things is another matter. One problem at a time!

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