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Companies Act 1985

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Changes over time for: Section 242

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Version Superseded: 12/01/2006

Status:

Point in time view as at 22/03/2005. This version of this provision has been superseded. Help about Status

Changes to legislation:

There are currently no known outstanding effects for the Companies Act 1985, Section 242. Help about Changes to Legislation

[F1242 Accounts and reports to be delivered to the registrar. E+W+S

(1)The directors of a company shall in respect of each financial year deliver to the registrar[F2 a copy of—

(a)the company’s annual accounts,

(b)the directors’ report,

[F3(ba)(in the case of a quoted company) the operating and financial review,]

(c)(in the case of a quoted company) the directors’ remuneration report, and

[F4(d)the auditors' report on those accounts and that directors' report and (in the case of a quoted company) on that operating and financial review and the auditable part of that directors' remuneration report.]]

[F5If any document comprised in those accounts or reports is in a language other than English then, subject to section 710B(6) (delivery of certain Welsh documents without a translation), the directors must annex to the copy of that document delivered a translation of it into English, certified in the prescribed manner to be a correct translation.]

(2)If the requirements of subsection (1) are not complied with before the end of the period allowed for laying and delivering accounts and reports, every person who immediately before the end of that period was a director of the company is guilty of an offence and liable to a fine and, for continued contravention, to a daily default fine.

(3)Further, if the directors of the company fail to make good the default within 14 days after the service of a notice on them requiring compliance, the court may on the application of any member or creditor of the company or of the registrar, make an order directing the directors (or any of them) to make good the default within such time as may be specified in the order.

The court’s order may provide that all costs of and incidental to the application shall be borne by the directors.

(4)It is a defence for a person charged with an offence under this section to prove that he took all reasonable steps for securing that the requirements of subsection (1) would be complied with before the end of the period allowed for laying and delivering accounts and reports.

(5)It is not a defence in any proceedings under this section to prove that the documents in question were not in fact prepared as required by this Part.]

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