420Duty to prepare directors' remuneration reportU.K.
(1)The directors of a quoted company must prepare a directors' remuneration report for each financial year of the company.
(2)In the case of failure to comply with the requirement to prepare a directors' remuneration report, every person who—
(a)was a director of the company immediately before the end of the period for filing accounts and reports for the financial year in question, and
(b)failed to take all reasonable steps for securing compliance with that requirement,
commits an offence.
(3)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.
Modifications etc. (not altering text)
C1Ss. 418-469 applied (with modifications) (1.10.2009) by The Unregistered Companies Regulations 2009 (S.I. 2009/2436), regs. 3-5, Sch. 1 para. 10 (with transitional provisions and savings in regs. 7, 9, Sch. 2)