Part 15Accounts and reports
Chapter 7Publication of accounts and reports
Right of member or debenture holder to demand copies of accounts and reports
431Right of member or debenture holder to copies of accounts and reports: unquoted companies
(1)
A member of, or holder of debentures of, an unquoted company is entitled to be provided, on demand and without charge, with a copy of—
(a)
the company's last annual accounts,
F1(aa)
the strategic report (if any) for the last financial year,
(b)
the last directors' report, and
(c)
the auditor's report on those accounts (including the statement on that reportF2and (where applicable) on the strategic report).
(2)
The entitlement under this section is to a single copy of those documents, but that is in addition to any copy to which a person may be entitled under section 423.
(3)
If a demand made under this section is not complied with within seven days of receipt by the company, an offence is committed by—
(a)
the company, and
(b)
every officer of the company who is in default.
(4)
A person guilty of an offence under this section is liable on summary 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.
432Right of member or debenture holder to copies of accounts and reports: quoted companies
(1)
A member of, or holder of debentures of, a quoted company is entitled to be provided, on demand and without charge, with a copy of—
(a)
the company's last annual accounts,
(b)
the last directors' remuneration report,
F3(ba)
the strategic report (if any) for the last financial year,
(c)
the last directors' report, and
(d)
the auditor's report on those accounts (including the report on the directors' remuneration reportF4, on the strategic report (where this is covered by the auditor’s report) and on the directors' report).
(2)
The entitlement under this section is to a single copy of those documents, but that is in addition to any copy to which a person may be entitled under section 423.
(3)
If a demand made under this section is not complied with within seven days of receipt by the company, an offence is committed by—
(a)
the company, and
(b)
every officer of the company who is in default.
(4)
A person guilty of an offence under this section is liable on summary 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.