FORM 6-K

                      SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549

                       Report of Foreign Private Issuer

                       Pursuant to Rule 13a-16 or 15d-16
                       of the Securities Exchange Act of
                                     1934


                               January 31, 2005

                       Commission File Number 001-14978


                              SMITH & NEPHEW plc
                              (Registrant's name)


                                15 Adam Street
                           London, England WC2N 6LA
             (Address of registrant's principal executive offices)


     [Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.]

               Form 20-F  X            Form 40-F
                         ---                     ---

     [Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(1).]

               Yes                     No  X
                   ---                    ---

     [Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(7).]

               Yes                     No  X
                   ---                    ---

     [Indicate by check mark whether by furnishing the information contained
in this Form, the registrant is also thereby furnishing information to the
Commission pursuant to Rule 12g3-2 (b) under the Securities Exchange Act of
1934.]

               Yes                     No  X
                   ---                    ---

     If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2 (b) : 82- n/a.

                                                               Total Pages: 5



                                  SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.


                                              Smith & Nephew plc
                                              (Registrant)


Date: January 31, 2005
                                         By:  /s/ Paul Chambers
                                              -----------------
                                              Paul Chambers
                                              Company Secretary



                                      2


                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Name of company

                              SMITH & NEPHEW PLC

2. Name of shareholder having a major interest

FMR Corp and Fidelity International Limited

3. Please state whether notification indicates that it is in respect of
holding of the shareholder named in 2 above or in respect of a non-beneficial
interest or in the case of an individual holder if it is a holding of that
person's spouse or children under the age of 18

Non-beneficial interest

4. Name of the registered holder(s) and, if more than one holder, the number
of shares held by each of them

Master Trust Bank of Japan 41,200
Brown Brothers Harriman Ltd LUX 287,461
JP Morgan Bournemouth 420,002
Brown Brothers Harriman & Co 11,991,967
JP Morgan Chase Bank 19,020,405
State Street Bank & Trust Company 531,523
Mellon Bank N.A. 3,260
State Street Bank & Trust Company 605,900
Bank of New York Brussels 556,881
Bankers Trust London 195,427
Citibank London 181,254
Clydesdale Bank plc 43,900
JP Morgan Bournemouth 419,600
Mellon Bank 382,375
Midland Securities Services 98,127
Northern Trust London 842,626
State Street Bank & Trust Company London 248,700

The following shares are from the assumed conversion of 128,510 ADRs (5
ordinary shares per ADR):

Brown Brothers Harriman & Co    642,500
JP Morgan Chase   50



5. Number of shares / amount of stock acquired



6. Percentage of issued class



7. Number of shares / amount of stock disposed

6,690,516

8. Percentage of issued class

0.71%

9. Class of security

Ordinary Shares of 12 2/9p

10. Date of transaction

26.01.2005

11. Date company informed

26.01.2005

12. Total holding following this notification

36,513,158

13. Total percentage holding of issued class following this notification

3.90%

14. Any additional information



15. Name of contact and telephone number for queries

Kate Cummins - Company Secretarial Assistant
0207 960 2251

16. Name and signature of authorised company official responsible for making
this notification

Kate Cummins - Company Secretarial Assistant

Date of notification



27.01.2005

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this document or material and does not accept any liability for error or
omission. The FSA is not liable for any damages (including, without
limitation, damages for loss of business or loss of profits) arising in
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or any material contained in it, or from any action or decision taken as a
result of using this document or any such material.