New Clause 236
Company Law Reform Bill [Lords]
1:45 pm

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Treasury shares: offences

‘(1) If a company contravenes any of the provisions of this Chapter (except section (Treasury shares: notice of cancellation) (notice of cancellation)), an offence is committed by—

(a) the company, and

(b) every officer of the company who is in default.

(2) 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.’.—[Margaret Hodge.]

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Brought up, and added to the Bill.

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