[F1242A Civil penalty for failure to deliver accounts.E+W+S
(1)Where the requirements of section 242(1) are not complied with before the end of the period allowed for laying and delivering accounts and reports, the company is liable to a civil penalty. This is in addition to any liability of the directors under section 242.
(2)The amount of the penalty is determined by reference to the length of the period between the end of the period allowed for laying and delivering accounts and reports and the day on which the requirements are complied with, and whether the company is a public or private company, as follows:—]
| Length of period | Public company | Private company |
|---|---|---|
| Not more than 3 months. | £500 | £100 |
| More than 3 months but not more than 6 months. | £1,000 | £250 |
| More than 6 months but not more than 12 months. | £2,000 | £500 |
| More than 12 months. | £5,000 | £1,000 |
(3)The penalty may be recovered by the registrar and shall be paid by him into the Consolidated Fund.
(4)It is not a defence in proceedings under this section to prove that the documents in question were not in fact prepared as required by this Part.
Textual Amendments
F1New ss. 241–244 inserted (1.7.1992 as to s. 242A) (subject to the saving and transitional provisions in S.I. 1990/355, arts. 6–9, Sch. 2, by Companies Act 1989 (c. 40, SIF 27), ss. 1, 11, 213(2) as part of the text inserted in place of ss. 221–262 (as mentioned in s. 1(a) of the 1989 Act); S.I. 1991/2945, arts. 2, 3
Modifications etc. (not altering text)
C1S. 242A modified (1.7.1992) by S.I. 1991/2945, art. 3(2)