(1)Where a private company limited by shares or by guarantee has only one member and he takes any decision which may be taken by the company in general meeting and which has effect as if agreed by the company in general meeting, he shall (unless that decision is taken by way of a written resolution) provide the company with a written record of that decision.
(2)If the sole member fails to comply with subsection (1) he shall be liable to a fine.
(3)Failure by the sole member to comply with subsection (1) shall not affect the validity of any decision referred to in that subsection.]
Textual Amendments
F1S. 382B inserted (15.7.1992) by S.I. 1992/1699, reg. 2, Sch. para. 6(1).