|
| |
|
Failure to give notice of rights to minority shareholder |
| |
33 (1) | In subsection (6) of section 430A of the Companies Act 1985 (c. 6) (takeovers: |
| |
failure to give notice of rights to minority shareholder) for the words “shall |
| |
be liable” to the end substitute “commits an offence.” |
| |
(2) | At the end of that section add— |
| 5 |
“(8) | A person guilty of an offence under this section is liable— |
| |
(a) | on conviction on indictment, to a fine; |
| |
(b) | on summary conviction, to a fine not exceeding the statutory |
| |
maximum and, for continued contravention, a daily default |
| |
fine not exceeding one-fiftieth of the statutory maximum.”. |
| 10 |
Failure to give information about interests in shares etc |
| |
34 (1) | In subsection (3) of section 444 of the Companies Act 1985 (failure to give |
| |
information requested by Secretary of State relating to interests in shares etc) |
| |
for “is liable to imprisonment or a fine, or both” substitute “commits an |
| |
| 15 |
(2) | At the end of that section add— |
| |
“(4) | A person guilty of an offence under this section is liable— |
| |
(a) | on conviction on indictment, to imprisonment for a term not |
| |
exceeding two years or a fine (or both); |
| |
(b) | on summary conviction— |
| 20 |
(i) | in England and Wales, to imprisonment for a term not |
| |
exceeding twelve months or to a fine not exceeding |
| |
the statutory maximum (or both) and, for continued |
| |
contravention, a daily default fine not exceeding one- |
| |
fiftieth of the statutory maximum; |
| 25 |
(ii) | in Scotland or Northern Ireland, to imprisonment for |
| |
a term not exceeding six months, or to a fine not |
| |
exceeding the statutory maximum (or both) and, for |
| |
continued contravention, a daily default fine not |
| |
exceeding one-fiftieth of the statutory maximum.”. |
| 30 |
Obstruction of rights conferred by a warrant or failure to comply with requirement under |
| |
| |
35 (1) | In section 448(7) of the Companies Act 1985 (obstruction of rights conferred |
| |
by or by virtue of warrant for entry and search of premises) omit the words |
| |
“and liable to a fine.” to the end. |
| 35 |
(2) | After that provision insert— |
| |
“(7A) | A person guilty of an offence under this section is liable— |
| |
(a) | on conviction on indictment, to a fine; |
| |
(b) | on summary conviction, to a fine not exceeding the statutory |
| |
| 40 |
Wrongful disclosure of information to which section 449 applies |
| |
36 (1) | Section 449 of the Companies Act 1985 (wrongful disclosure of information |
| |
obtained in course of company investigation) is amended as follows. |
| |
|
| |
|
| |
|
(2) | For subsection (6)(a) and (b) substitute “is guilty of an offence.” |
| |
(3) | After subsection (6) insert— |
| |
“(6A) | A person guilty of an offence under this section is liable— |
| |
(a) | on conviction on indictment, to imprisonment for a term not |
| |
exceeding two years or a fine (or both); |
| 5 |
(b) | on summary conviction— |
| |
(i) | in England and Wales, to imprisonment for a term not |
| |
exceeding twelve months or to a fine not exceeding |
| |
the statutory maximum (or both); |
| |
(ii) | in Scotland or Northern Ireland, to imprisonment for |
| 10 |
a term not exceeding six months, or to a fine not |
| |
exceeding the statutory maximum (or both).”. |
| |
| |
Destruction, mutilation etc of company documents |
| |
37 (1) | For subsection (3) of section 450 of the Companies Act 1985 (offence of |
| 15 |
destroying, etc company documents) substitute— |
| |
“(3) | A person guilty of an offence under this section is liable— |
| |
(a) | on conviction on indictment, to imprisonment for a term not |
| |
exceeding seven years or a fine (or both); |
| |
(b) | on summary conviction— |
| 20 |
(i) | in England and Wales, to imprisonment for a term not |
| |
exceeding twelve months or to a fine not exceeding |
| |
the statutory maximum (or both); |
| |
(ii) | in Scotland or Northern Ireland, to imprisonment for |
| |
a term not exceeding six months, or to a fine not |
| 25 |
exceeding the statutory maximum (or both).”. |
| |
(2) | Omit subsection (4) of that section. |
| |
Provision of false information in purported compliance with section 447 |
| |
38 (1) | For subsection (2) of section 451 of the Companies Act 1985 (c. 6) (provision |
| |
of false information in response to requirement under section 447) |
| 30 |
| |
“(2) | A person guilty of an offence under this section is liable— |
| |
(a) | on conviction on indictment, to imprisonment for a term not |
| |
exceeding two years or a fine (or both); |
| |
(b) | on summary conviction— |
| 35 |
(i) | in England and Wales, to imprisonment for a term not |
| |
exceeding twelve months or to a fine not exceeding |
| |
the statutory maximum (or both); |
| |
(ii) | in Scotland or Northern Ireland, to imprisonment for |
| |
a term not exceeding six months, or to a fine not |
| 40 |
exceeding the statutory maximum (or both).”. |
| |
(2) | Omit subsection (3) of that section. |
| |
|
| |
|
| |
|
Obstruction of inspector, etc exercising power to enter and remain on premises |
| |
39 (1) | Section 453A of the Companies Act 1985 (c. 6) (obstruction of inspector etc |
| |
exercising power to enter and remain on premises) is amended as follows. |
| |
(2) | For subsection (5)(a) and (b) substitute “is guilty of an offence.” |
| |
(3) | After subsection (5) insert— |
| 5 |
“(5A) | A person guilty of an offence under this section is liable— |
| |
(a) | on conviction on indictment, to a fine; |
| |
(b) | on summary conviction, to a fine not exceeding the statutory |
| |
| |
| 10 |
Attempted evasion of restrictions under Part 15 |
| |
40 (1) | In subsection (1) of section 455 of the Companies Act 1985 (attempted |
| |
evasion of restrictions under Part 15) for “is liable to a fine if he” substitute |
| |
“commits an offence if he”. |
| |
(2) | In subsection (2) of that section for the words “the company” to the end |
| 15 |
substitute “an offence is committed by— |
| |
| |
(b) | every officer of the company who is in default.” |
| |
(3) | After that subsection insert— |
| |
“(2A) | A person guilty of an offence under this section is liable— |
| 20 |
(a) | on conviction on indictment, to a fine; |
| |
(b) | on summary conviction, to a fine not exceeding the statutory |
| |
| |
| |
41 (1) | Section 458 of the Companies Act 1985 (fraudulent trading) is amended as |
| 25 |
| |
(2) | Make the existing provision subsection (1). |
| |
(3) | For “is liable to imprisonment or a fine, or both” substitute “commits an |
| |
| |
| 30 |
“(2) | A person guilty of an offence under this section is liable— |
| |
(a) | on conviction on indictment, to imprisonment for a term not |
| |
exceeding ten years or a fine (or both); |
| |
(b) | on summary conviction— |
| |
(i) | in England and Wales, to imprisonment for a term not |
| 35 |
exceeding twelve months or to a fine not exceeding |
| |
the statutory maximum (or both); |
| |
(ii) | in Scotland or Northern Ireland, to imprisonment for |
| |
a term not exceeding six months, or to a fine not |
| |
exceeding the statutory maximum (or both).”. |
| 40 |
|
| |
|
| |
|
Failure to register court order in case of unfair prejudice to company members |
| |
42 (1) | In section 461(5) of the Companies Act 1985 (c. 6) (failure to register court |
| |
order in case of unfair prejudice to company members) omit the words “; |
| |
and if a company makes default” to the end. |
| |
(2) | After that provision insert— |
| 5 |
“(5A) | If a company makes default in complying with subsection (5), an |
| |
| |
| |
(b) | every officer of the company who is in default. |
| |
(5B) | A person guilty of an offence under this section is liable on summary |
| 10 |
conviction to a fine not exceeding level 3 on the standard scale and, |
| |
for continued contravention, a daily default fine not exceeding one- |
| |
tenth of level 3 on the standard scale.”. |
| |
Breach of duty etc in connection with application to strike company off register |
| |
43 (1) | In subsection (1) of section 652E of the Companies Act 1985 (enforcement of |
| 15 |
duties in connection with application to strike company off register) omit |
| |
| |
(2) | In subsection (2) of that section omit “and liable to imprisonment or a fine, |
| |
| |
(3) | At the end of that section add— |
| 20 |
“(6) | A person guilty of an offence under subsection (1) is liable— |
| |
(a) | on conviction on indictment, to a fine; |
| |
(b) | on summary conviction, to a fine not exceeding the statutory |
| |
| |
(7) | A person guilty of an offence under subsection (2) is liable— |
| 25 |
(a) | on conviction on indictment, to imprisonment for a term not |
| |
exceeding seven years or a fine (or both); |
| |
(b) | on summary conviction— |
| |
(i) | in England and Wales, to imprisonment for a term not |
| |
exceeding twelve months or to a fine not exceeding |
| 30 |
the statutory maximum (or both); |
| |
(ii) | in Scotland or Northern Ireland, to imprisonment for |
| |
a term not exceeding six months, or to a fine not |
| |
exceeding the statutory maximum (or both).”. |
| |
Making unauthorised application to strike off company |
| 35 |
44 (1) | In subsection (2) of section 652F of the Companies Act 1985 (making |
| |
unauthorised application to strike off company) omit “and liable to a fine”. |
| |
(2) | At the end of that section add— |
| |
“(3) | A person guilty of an offence under this section is liable— |
| |
(a) | on conviction on indictment, to a fine; |
| 40 |
(b) | on summary conviction, to a fine not exceeding the statutory |
| |
| |
|
| |
|