No versions valid at: 08/11/2006
Point in time view as at 08/11/2006. This version of this provision is not valid for this point in time.
Companies Act 2006, Section 422 is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Valid from 06/04/2008
(1)The directors' remuneration report must be approved by the board of directors and signed on behalf of the board by a director or the secretary of the company.
(2)If a directors' remuneration report is approved that does not comply with the requirements of this Act, every director of the company who—
(a)knew that it did not comply, or was reckless as to whether it complied, and
(b)failed to take reasonable steps to secure compliance with those requirements or, as the case may be, to prevent the report from being approved,
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)
C1S. 422 applied (with modifications) (6.4.2008) by The Companies (Revision of Defective Accounts and Reports) Regulations 2008 (S.I. 2008/373), reg. 6
C2Ss. 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)
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