Point in time view as at 06/04/2018.
Companies Act 2006, Section 490 is up to date with all changes known to be in force on or before 02 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.
(1)If a public company fails to appoint an auditor or auditors in accordance with section 489F1... the Secretary of State may appoint one or more persons to fill the vacancy.
(2)Where subsection (2) of [F2section 489] applies and the company fails to make the necessary appointment before the end of the accounts meeting, the company must within one week of the end of that meeting give notice to the Secretary of State of his power having become exercisable.
(3)If a company fails to give the notice required by this section, 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.
Textual Amendments
F1Words in s. 490(1) omitted (with effect in accordance with reg. 2(3) of the amending S.I.) by virtue of The Statutory Auditors Regulations 2017 (S.I. 2017/1164), reg. 1(2)(3), Sch. 1 para. 18 (with reg. 2(6)(7))
F2Words in s. 490(2) substituted (with effect in accordance with reg. 1(6)(8) of the amending S.I.) by The Statutory Auditors and Third Country Auditors Regulations 2017 (S.I. 2017/516), regs. 1(2), 12(11)
Modifications etc. (not altering text)
C1Ss. 484-539 applied (with modifications) (1.10.2009) by The Unregistered Companies Regulations 2009 (S.I. 2009/2436), regs. 3-5, Sch. 1 para. 11 (with transitional provisions and savings in regs. 7, 9, Sch. 2)
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